Ispat, Nippon Team Up On Technology EAST CHICAGO, Ind., Oct. 27 /PRNewswire-FirstCall/ -- Two of the world's leading steel companies, Ispat International N.V. and Nippon Steel Corp., have reinforced and expanded their joint commitments to serving automakers in North America with excellence. Through a new memorandum of understanding, Ispat and Nippon are renewing their long relationship to ensure that they will continue to meet ever- increasing customer demands, particularly those of the automotive industry. "Nippon is the recognized leader in steel technology," said Louis L. Schorsch, president and chief executive officer of Ispat Inland Inc., an Ispat International subsidiary that is also a signatory to the agreement. "As Nippon's chosen partner for serving the North American market, Ispat Inland will benefit significantly from our joint efforts to set new standards in quality and service for our customers." "We are drawing upon NSC's resources to provide the ultra-strong, light steels that will make tomorrow's vehicles safer and more fuel-efficient. At the same time, Ispat Inland's product-application scientists and technicians are interpreting customers' requirements and applying the most effective steel products to their design and manufacturing processes." Already, the U.S. and Japanese companies are partners in two successful ventures, dedicated to the production of top-quality sheet and galvanized sheet, in New Carlisle, Ind. The new agreement will enhance their capabilities as well as those of Ispat Inland's East Chicago plant, which supplies them. I/N Tek, started in 1990, is a continuous cold-rolling plant that produces sheet steel of unmatched quality and consistency. A 60-40 Ispat-Nippon venture, it enables the combination of five processes that take 12 days or more to perform via traditional batch methods. I/N Kote, started adjacent to I/N Tek in 1991, is a 50-50 venture with separate lines producing hot-dip galvanized and electrogalvanized sheet. With these facilities and its continuous annealing line in East Chicago, Ispat Inland is uniquely capable of making the advanced high-strength steels that the company has developed and that automakers are designing into tomorrow's vehicles. "Today, these plants are the best in North America at what they do," said Schorsch. "But customers' requirements and the competitive environment are only getting tougher. Now I'm even more confident that we'll be able to continue providing the products, the quality, and the delivery that our customers need tomorrow. "Ispat Inland's partnership with Nippon Steel provides us with technical strengths and resources unmatched in North America. Through our parent, Ispat International, we are linked to The LNM Group - one of the largest, most successful steel companies in the world. Together, these two relationships give us a strong, solid foundation for improved performance." Ispat Inland Inc. is a subsidiary of Ispat International N.V., one of the top 10 steel companies in the world, with integrated steelmaking facilities in six countries and annual shipments in 2002 in excess of 15 million tons. Ispat Inland manufactures a broad range of semifinished and finished flat and bar steel products and is one of the world's lowest-cost steel producers. In addition to Ispat Inland in East Chicago, Ind., USA, Ispat International has major steelmaking facilities in Canada, Mexico, Trinidad, France and Germany. Ispat International is a member of The LNM Group, the world's second-largest and most global steel group, which also operates in Algeria, the Czech Republic, Indonesia, Kazakhstan, Romania and South Africa. DATASOURCE: Ispat Inland Inc. CONTACT: David C. Allen of Ispat Inland Inc., +1-219-399-5430

Copyright