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OREGON STEEL MILLS INC. ANNOUNCES CF&I STEEL TO ADD MORGAN ROD OUTLET

 PORTLAND, Ore., July 20 /PRNewswire/ -- Oregon Steel Mills Inc. (NYSE: OS) announced the beginning of its planned capital program at its Pueblo, Colo.-based mill, CF&I Steel. CF&I has reached an agreement with Morgan Construction Co. of Worcester, Mass. for Morgan to engineer and manufacture a rod outlet and undertake a major upgrading of its mill.
 The project will give CF&I Steel the capability to produce a full range of rod and bar products from the same mill. CF&I Steel, a limited partnership in which a subsidiary of Oregon Steel Co. is the general partner, will not only be able to produce higher quality rod at a faster speed, but will be able to reduce operating costs by shutting down its existing three-strand rod mill. The changes will give the CF&I mill the capability to produce 450,000 net tons of rod and 150,000 net tons of bar per year.
 "This is one of four significant projects CF&I will undertake in the next year," said Oregon Steel Vice President, Joe Corvin. "The addition of a rod outlet and upgrading of our bar mill will give us the advantages that are needed in today's markets--speed, quality, versatility and cost-effective production. We'll be able to do more with a single mill than many other companies can do with two mills."
 The rod/bar mill project will include a new furnace followed by a four-stand vertical-horizontal breakdown roughing mill to process a 7.5" diameter entry billet. The upgrade also includes installation of a new shear, insulated roller tables, and modifications to existing stands, such as changing roll diameters and increasing the capabilities of drives and spindles.
 After modifications are complete, the rod/bar mill will have the ability to roll bar through the breakdown mill at a full-groove rate of 145 tons per hour (160nt/h), and a maximum rate of 122.5 tons per hour (135nt/h) for both bar and rod product. Maximum bar mill speed will be 3,000 feet per minute (15 meters per second). The modified bar mill will be able to roll rounds ranging from 0.625" (16 mm) to 2.5" (63.5 mm) and rebar from No. 4 (12 mm) to No. 11 (35 mm).
 The new rod outlet will feature an adjustable laying head, giving the mill the ability to roll rod from 0.196" to 1" (5 mm to 25 mm) and rebar from No. 3 to No. 5 (10 mm to 16 mm). The No-Twist(R) mill and other features will give the mill the ability to roll small diameter rod with a tolerance of plus or minus 0.005" (0.12 mm). The rod outlet will have the capability to roll at a full-groove rate of 122.5 tons per hour (135nt/h), with a guaranteed speed of 20,700 feet per minute (105 meters per second).
 The mill changes will result in lower operating costs because of the closing of the three-strand rod mill, the ability to roll product ranging from 0.196" rod to 2.5" bar, faster rolling speeds and higher quality, including improved tolerances and tensile grades.
 "This is a major project, not only for CF&I, but for Morgan Construction," according to Daniel M. Morgan, senior vice president, Sales and Marketing. "The Morgan rod mill has served CF&I well for nearly 50 years. We expect the new Morgan rod outlet and modifications to the bar mill will service CF&I well for the next 50 years."
 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 and tubular products.
 -0- 7/20/93
 /CONTACT: Vicki Tagliafico, Shareholder Relations, of Oregon Steel Mills, 503-240-5226/
 (OS)


CO: Oregon Steel Mills Inc.; CF&I Steel; Morgan Construction Co. ST: Oregon, Colorado IN: MNG SU: CON

JH -- SE021 -- 3655 07/20/93 18:30 EDT
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Date:Jul 20, 1993
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