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OREGON STEEL ANNOUNCES MELT SHOP AND RAIL MILL IMPROVEMENTS AT CF&I STEEL, L.P.

 PORTLAND, Ore., Aug. 26 /PRNewswire/ -- Oregon Steel Mills Inc. (NYSE: OS) today announced another significant step forward in the completion of its planned capital program at CF&I Steel, L.P., its majority-owned subsidiary. CF&I has concluded negotiations for all equipment contracts to produce steel rails for the railroad industry using continuous cast steels. This conversion will be the final step in making CF&I a totally continuous cast facility.
 CF&I has signed contracts for the following equipment installations: a new ladle refining station with Man GHH Corp.; a new vacuum degassing facility with Mannesman Demag; and, modernization and modification of the existing Demag round caster with Mannesman Demag.
 In addition, a contract has been signed with ITAM to provide a new reheat furnace and associated handling equipment to reheat and feed the cast blooms into the rail mill. Construction is scheduled to begin early in 1994 and the facilities are expected to be operational before the end of 1994. The installation of the equipment will result in increased yields, higher productivity and improved quality for the steel rail products which are currently produced by CF&I.
 "The completion of this project will move the quality of CF&I's rail into the twenty-first century," said Oregon Steel vice president, Joe Corvin. "We will be competitive with any rail producer in the world." The final step in the upgrade to the rail mill will be the installation of in-line head hardening, which is expected to be completed by the end of 1996.
 Oregon Steel Mills produces steel plate and pipe from plants located in Portland, Ore.; Fontana and Napa, Calif.; and Camrose, Alberta. Its Pueblo, Colo. plant, CF&I, produces steel rail, rod, bar, wire and tubular products.
 -0- 8/26/93
 /CONTACT: Vicki Tagliafico of Oregon Steel Mills, 503-240-5226/
 (OS)


CO: Oregon Steel Mills Inc. ST: Oregon IN: MNG SU:

AL -- SE008 -- 6377 08/26/93 17:24 EDT
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Publication:PR Newswire
Date:Aug 26, 1993
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