Novamerican Steel Inc. Announces Its Name Change to Barzel Industries Inc.
13 Fevereiro 2009 - 7:30PM
Business Wire
Barzel Industries Inc. (�Barzel�), formerly known as
Novamerican Steel Inc. (�Novamerican�) (NASDAQ: TONS, TONSW)
announced today that it has changed its name from Novamerican Steel
Inc. to Barzel Industries Inc. Barzel�s common stock, $0.001 par
value (the �Common Stock�) and its warrants to purchase one share
of Common Stock (the �Warrants�) will continue to trade on The
Nasdaq Capital Market (�NASDAQ�), but the ticker symbols �TONS� and
�TONSW,� respectively, will change, effective February 17, 2009, to
�TPUT� and �TPUTW,� respectively.
A New Identity
Barzel means �steel� in many variations and languages. Similar
sounding words are also found in modern Latin (ferrous), Arabic and
Indian-derivative languages, representing various metals and the
art of metalworking. We see our efforts to implement our systemic
management methodology, The Decalogue�, in this industry as the
next step of evolution for organizations and their relationship
with metals.
The M�bius Strip
Our new logo, a steel ribbon in the form of a M�bius strip is a
mathematical curiosity that has no beginning or end and no
�correct� orientation (i.e., there is no �right side up�). It
represents our organizational model, which is a fully
interdependent system, meaningful only in its entirety. The logo
also reflects our capabilities in shaping and forging metals.
Corrado De Gasperis, Barzel�s CEO, stated, �Today, 30 years
after the birth of the company, Novamerican Steel is shedding the
final vestiges of its out-dated past and publicly marking the start
of our very different journey. Our focus is on the needs of our
customers and we are demonstrating that reliability and quality of
goods must not come at the expense of speed of delivery. Our goal
is to maximize the throughput (that is, the speed at which we
generate cash through sales) from our one, fully integrated network
of processing, manufacturing and distribution facilities.�
More About Barzel Industries Inc.
Headquartered in Norwood, Massachusetts, with operational hubs
in Mississauga, Ontario and Montreal, Quebec, we operate a network
of 17 manufacturing, processing and distribution facilities in the
United States and Canada. Through an innovative management system
that includes close statistical monitoring and analysis of our
plant capabilities, we can service our customers with speed,
quality and reliability. With a long tradition of quality service,
we offer a wide range of metal processing solutions to a variety of
industries, from construction and industrial manufacturing to
finished commercial racking products. Our systemic approach has
enabled us to become a well-diversified, multi-process provider of
value-added services. We believe we are one of only two independent
continuous process picklers in Canada. We also believe our in-line
temper mill, which became operational in 2005, makes us the only
provider of this high-precision service in Canada that is not
integrated with a primary steel producer.
For additional information on Barzel, visit its website at
http://www.barzel.com.
Forward-Looking Statements
This press release and any related calls or discussions may
contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 about Barzel.
Forward-looking statements are statements that are not historical
facts. Such forward-looking statements, based upon the current
beliefs and expectations of Barzel�s management, are subject to
risks and uncertainties (including those described in Barzel�s
public filings with the Securities and Exchange Commission), which
could cause actual results, events and circumstances to differ
materially from the forward-looking statements. The following
factors, among others, could cause actual results, events and
circumstances to differ from those set forth in the forward-looking
statements: changes in generally accepted accounting principles;
failure of Barzel to continue to comply with government
regulations; adoption of or changes in legislation or regulatory
environments or requirements adversely affecting Barzel�s
businesses; changes in the financial stability of major customers
of Barzel or in demand for its products and services; the failure
to achieve the benefits anticipated from the recently completed
transactions; competition; changes in general economic conditions;
geopolitical events, and other risks and uncertainties, as well as
future decisions by the parties. The information set forth herein
should be read in light of such risks. In some cases, one can
identify forward-looking statements by terminology such as �may,�
�should,� �could,� �would,� �expect,� �plan,� �anticipate,�
�believe,� �estimate,� �continue,� or the negative of such terms or
other similar expressions. The reader is cautioned not to rely on
these forward-looking statements. Barzel disclaims any obligation
to update these forward-looking statements.
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