Republic Steel Issues Statement

CANTON, Ohio, Aug. 5, 2013 /PRNewswire/ -- Republic Steel experienced a failure at the transformer that supplies power to the #7 Furnace in our Canton, Ohio melt shop on Friday, August 2, 2013. This failure is being investigated and will result in an outage of our #7 back-up furnace lasting between two and eight weeks. As a result, we are ramping up production from our #9 Electric Furnace which was updated in late 2012 during a $15 million capital upgrade that included the installation of an Eccentric Bottom Tapping (EBT) configuration.

"We are doing everything in our power to implement the needed repairs to minimize any impact on our customers," stated Jaime Vigil, President and CEO.

About Republic Steel
Republic Steel is North America's leading supplier of special bar quality (SBQ) steel, a highly engineered product used in axles, drive trains, suspensions and other critical components of automobiles, off-highway vehicles, and industrial equipment. Republic's products include hot-rolled steel bars, cold-finished steel bars, and bottom-poured ingots. With headquarters in Canton, Ohio, and steelmaking capabilities in Canton and Lorain, Ohio, the company operates value-added rolling and finishing facilities in Canton, Lorain, and Massillon, Ohio; Lackawanna, NY; Gary, Ind.; and Hamilton, Ontario. Republic employs approximately 2,200 people.

SOURCE Republic Steel