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PAPER CAL STEEL CO. TO PURCHASE $4.5 MILLION FIRST-OF-ITS-KIND MACHINE, EXPAND INTO NEW MARKETS

 ST. PAUL, Minn., April 20 /PRNewswire/ -- Paper Cal Steel Co., Minnesota's largest processor and distributor of hot rolled steel, announced today that it will install a first-of-its-kind, cut-to-length machine for approximately $4.5 million.
 "Our capital investment in this new technology will allow us to expand our operations in Minnesota," said Joe Russo, president, Paper Cal Steel. "We anticipate that it will enable us to double production capacity, lower costs and expand into fast growing, new markets."
 Russo noted that the company's latest investment in state-of-the-art technology will give it a competitive advantage, further fueling the steady growth it has experienced since its acquisition by IPSCO Inc., a
Canadian-based manufacturer of steel and fabricated products. Between


1989 and 1992, Paper Cal Steel has posted a dramatic 63 percent increase in the amount of steel tonnage processed. The machine's development is a revolutionary advancement in the cut-to-length steel industry. Its proprietary process resolves the problems of residual stress associated with the fabrication of high strength steel, producing a flatter, higher quality sheet metal. As a result, Paper Cal Steel's products will achieve superior flatness and shape retention compared to products produced on other standard cut-to-length lines. The technology was jointly developed by Paper Cal Steel, IPSCO Inc. and Herr-Voss Corporation, Callary, Penn., a leading U.S. manufacturer of steel processing machinery.
 Paper Cal Steel Co., a subsidiary of IPSCO Inc. (NASDAQ: IPSCO), produces cut-to-length steel for the high strength steel market. More than 75 percent of the company's steel products use recycled scrap metal as a raw material. Paper Cal Steel's customers include manufacturers of cement mixer drums, storage tanks, farm implements, bridges, and transportation and heavy construction equipment, among others. The company is headquartered in St. Paul, Minn.
 -0- 4/20/93
 /CONTACT: Anne Parker of Paper Cal Steel, 612-631-9031; or Tom Jollie of Padilla Speer Beardsley, 612-297-6500, for Paper Cal Steel/
 (IPSCO)


CO: Paper Cal Steel Co. ST: Minnesota, Pennsylvania IN: SU:

KH -- MN019 -- 8051 04/20/93 12:04 EDT
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Publication:PR Newswire
Date:Apr 20, 1993
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