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GIBRALTAR STEEL CORPORATION ANNOUNCES INITIAL PUBLIC OFFERING

 BUFFALO, N.Y., Nov. 5 /PRNewswire/ -- Gibraltar Steel Corporation (NASDAQ-NMS: ROCK) announced today that it has commenced an initial public offering of 2,500,000 shares of its common stock at $11 a share. The stock began trading at 9:30 a.m. today on the NASDAQ National Market System under the trading symbol "ROCK."
 Salomon Brothers Inc. is the managing underwriter for the offering. Gibraltar intends to use the net proceeds of the offering to repay outstanding indebtedness.
 Gibraltar Steel is a leading intermediate processor of high-value added steel products, consisting primarily of a broad range of fully processed cold rolled strip steel.
 -0- 11/5/93
 /CONTACT: Walter T. Erazmus, chief financial officer, of Gibraltar Steel, 716-826-6500, or Kenneth P. Houseknecht of Collins & Company, 716-884-4520, for Gibraltar Steel/
 (ROCK)


CO: Gibraltar Steel Corporation ST: New York IN: MNG SU: OFR

BM-AR -- CL010 -- 1344 11/05/93 16:04 EST
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Publication:PR Newswire
Date:Nov 5, 1993
Words:151
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