Corporate Profile for GS Industries, dated July 30, 1999.

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Published Date:   July 30, 1999

Company Name:     GS Industries

Address:          1901 Roxborough Road, Suite 200
                  Charlotte, NC 28202

Main Telephone
 Number:          704/366-6901

Internet Home
 Page Address
  (URL)           http://www.gsind.com

Chief Executive
 Officer:         Mark G. Essig

Chief Financial
 Officer:         Luis E. Leon

Investor Relations
 Contact:         Luis E. Leon
 Business number: 704/366-6901
 E-mail address:  [e-mail]

Public Relations
 Contact:         Luis E. Leon
 Business number: 704/366-6901
 E-mail address:  [e-mail]

Industry:         steel

Company description:

GS Industries, Inc. (GSI) is a privately owned diversified international firm with corporate headquarters in Charlotte, North Carolina. It has consolidated annual sales of approximately $1 billion and 3,500 employees. Approximately 25% of the employees are located outside of the United States.

Through its operating subsidiaries and joint ventures, GSI is a global producer of special steel products.

-- Steel wire rod.

-- Grinding media and grinding mill liners for the mining industry.

-- PC strand and guy strand products.

-- Manufacturing of direct reduced iron (DRI).

Its operations and joint ventures include:

Steel Products

-- Georgetown Steel Corporation, in Georgetown, South Carolina, is one of the country's leading manufacturers of high carbon and special grade steel wire rod. Georgetown Steel operates a modern mini-mill with raw steelmaking capacity of 1 million tons per year. Georgetown Steel pioneered the use of direct reduced iron (DRI) for steelmaking in the U.S. and currently operates at its Georgetown steel plant the only integrated DRI facility in the U.S. Georgetown is the only producer of wire rod for radial tire cord in North America.

-- GST Steel (GST), in Kansas City, Missouri, is also a leading manufacturer of high carbon and special grade wire rod for sale to the U.S. market. Moly-Cop GST is the largest forged grinding media producer in the world. Grinding media are high carbon steel balls and rods used inside a rotating mill to grind semi-crushed rock as a step in processing ore. GST also manufactures engineered bars for the US market. The GST mini-mill has an annual raw steel production capacity of approximately 1 million tons per year.

-- Siderperu, in Chimbote, Peru, is the only integrated long and flat products steel producer in Peru. GSI owns an equity stake and acts as the managing and technical partner for the steel plant. Current production is about 400,000 tons/year with an expansion program underway. Siderperu, furthermore, supplies raw materials to GSI's Moly-Cop units in Peru and Chile.

-- Florida Wire and Cable, with plants in Jacksonville and Sanderson, Florida is the US market leader in pre-stressed concrete strand and a major supplier of galvanized guy strand, with annual capacity of 160,000 tons. It also sells stressed concrete construction systems and electrical insulators for power distribution through nationwide distribution centers.

-- American Iron Reduction (AIR), is a 50/50 joint venture with Birmingham Steel Corp. American Iron Reduction is located in Convent, Louisiana and produces direct reduced iron (DRI). A 1.2 million MT/yr Midrex plant was commissioned in January 1998 to supply high quality (DRI) to both partners. DRI is a high quality scrap substitute used as a raw material for electric arc furnace (EAF) steelmaking.

Mining Products - Moly-Cop Grinding Media

-- Moly-Cop Chile, is located in Concepcion, Chile. Their annual capacity is over 150,000 tons of grinding balls. It is the market leader in Chile and an exporter to Brazil and Argentina. The plant is currently being expanded to meet the needs of the growing mining market in the region.

-- Moly-Cop Adesur, located in Arequipa, Peru has the capacity to manufacture 40,000 tons per year of grinding balls. In addition to being the leader in the Peruvian market, it also exports to the balance of the Andean region.

-- GST-Europa SpA, has two manufacturing plants in Italy. The cast ball foundry located in Mezzomerico has an annual capacity to produce 7,000 tons of cast grinding balls for the cement industry. GST-Europa SpA, also has a joint venture, GSI Lucchini SpA, in Piombino, Italy, in partnership with the Lucchini Steel group, to produce forged steel grinding balls. Together these two plants serve Europe, West Africa, and the Middle East.

-- Mining Products Joint Ventures, GSI is a partner in a number of joint ventures which produce forged grinding balls in Australia (Donhad Pty. Ltd.), Canada (Moly-Cop Canada), Mexico (Simec Moly-Cop) and the Philippines (Moly-Cop Philippines). GSI is the market leader through these joint ventures in each market area.

Mining Products, MEI Cast Wear Parts

-- ME International (MEI), is a leading manufacturer of non-manganese grinding mill liners for sale to the worldwide mining industry (principally, copper, iron ore and gold mines). Mill liners are protective steel liners that shield the rotating mill from the pulverizing activity of the grinding media. Grinding media and mill liners are worn down as ore is processed and must be continually replenished. MEI's plants in Duluth, Minnesota and Tempe, Arizona shipped over 44,000 tons of castings in 1997. ME International has announced a new joint venture with Elecmetal to construct a greenfield foundry in Chile to serve the Latin American mill liner market. This new venture ME/Elecmetal will be the market leader in this region.