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OREGON STEEL AND NUCOR SIGN LETTER OF INTENT FOR NEW STEEL MILL IN WESTERN UNITED STATES

 PORTLAND, Ore., Dec. 29 /PRNewswire/ -- Oregon Steel Mills Inc. (NYSE: OS) announced today it has signed a letter of intent with Nucor Corp. (NYSE: NUE) for the construction and operation of a new steel mill in the western United States. The new company will manufacture and market hot-rolled and cold-rolled sheet steel and will have an initial capacity of 1,000,000 tons per year.
 It is anticipated that Nucor will own 60 percent and Oregon Steel will own 40 percent of the new entity. This new steel mill would utilize the same thin-slab casting technology that has been successfully used for over three years in Nucor's sheet steel mill in Crawfordsville, Ind., and in Nucor's new sheet steel mill in Hickman, Ark.
 Nucor Corp. and affiliates are manufacturers of steel products with operating facilities in eight states. Products produced are: carbon and alloy steel, steel joists and joists girders, steel deck, cold finished steel, steel grinding balls, steel fasteners, steel bearings and metal building systems.
 Oregon Steel owns and operates a steel plate minimill in Portland, Ore., and a steel plate rolling mill in Fontana, Calif., which produce hot-rolled carbon, high-strength low alloy, heat treated and alloy steel plate; as well as a steel pipe mill in Napa Calif., which produces large diameter oil and natural gas transmission line pipe. Oregon Steel also owns a 60 percent interest in Camrose Pipe Co., a Canadian partnership, which produces ERW and large diameter pipe.
 -0- 12/29/92
 /CONTACT: Vicki Tagliafico of Oregon Steel Mills, 503-240-5226/
 (OS NUE)


CO: Oregon Steel Mills Inc.; Nucor Corp. ST: Oregon IN: MNG SU:

SM-LM -- SE001 -- 0308 12/29/92 11:26 EST
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Publication:PR Newswire
Date:Dec 29, 1992
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