EX-99
5
sttx8kex99_1.htm
EXHIBIT 99.1
Steel Technologies Inc. - Exhibit 99.1 to Form 8-K (6-1-2007)
NEWS RELEASE
Contact:
Bradford T. Ray
Roger D. Shannon
Chief Executive Officer
Chief Financial Officer
502/245-2110
502/245-2110
STEEL TECHNOLOGIES COMPLETES MERGER WITH MITSUI
Louisville, Ky. (June 1, 2007) -- Steel Technologies Inc.
(NASDAQ: STTX) today announced that the Company has completed its previously
announced merger with Mitsui & Co. (U.S.A.), Inc., a wholly owned subsidiary of
Mitsui & Co., Ltd. (TSE:8031). The Company has notified NASDAQ of the merger's
closing so that it may suspend further trading of Steel Technologies' common
stock as of the end of the current trading day.
Commenting on the announcement, Steel
Technologies' Chief Executive Officer, Bradford T. Ray, said, "We are pleased to
announce the successful completion of our merger with Mitsui. We are excited
about the future of our company, especially with the backing and resources of a
strong strategic owner like Mitsui and the opportunities it affords our
customers, suppliers and employees".
Under the terms of the merger agreement, Steel
Technologies' shareholders will receive $30 per share in an all-cash
transaction. The Company has appointed National City Bank, N.A. as paying agent
for the merger consideration. National City Bank will contact shareholders
directly with instructions and letter of transmittal forms for the surrender of
stock certificates. Shareholders should not send forms and/or stock
certificates to Steel Technologies, as this will only delay receipt of their
cash payment. For more information concerning the process for obtaining payment
for their shares, shareholders should contact National City Bank Shareholder
Services at 1-800-622-6757.
Steel Technologies processes flat-rolled steel to
specific thickness, width, temper, finish and shape requirements for automotive,
appliance, lawn and garden, office furniture, agriculture, construction,
hardware, and consumer goods. The Company operates 24 facilities, including its
joint venture operations, located throughout the United States, Mexico and
Canada. More information about the Company may be found on the World Wide Web
at
www.steeltechnologies.com
.
Statements contained in this release, which are not historical facts, are
forward-looking statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are subject to
risks and uncertainties (contained in the Company's Securities and Exchange
Commission filings), which could cause actual results to differ materially from
those projected. SEC filings may be obtained from the SEC or by contacting the
Company.
-END-

EX - 99 5 sttx8kex99 _ 1 . htm EXHIBIT 99 . 1 Steel Technologies Inc . - Exhibit 99 . 1 to Form 8 - K ( 6 - 1 - 2007 ) NEWS RELEASE Contact : Bradford T . Ray Roger D . Shannon Chief Executive Officer Chief Financial Officer 502 / 245 - 2110 502 / 245 - 2110 STEEL TECHNOLOGIES COMPLETES MERGER WITH MITSUI Louisville , Ky . ( June 1 , 2007 ) -- Steel Technologies Inc . ( NASDAQ : STTX ) today announced that the Company has completed its previously announced merger with Mitsui & Co . ( U . S . A . ) , Inc . , a wholly owned subsidiary of Mitsui & Co . , Ltd . ( TSE : 8031 ) . The Company has notified NASDAQ of the merger 's closing so that it may suspend further trading of Steel Technologies ' common stock as of the end of the current trading day . Commenting on the announcement , Steel Technologies ' Chief Executive Officer , Bradford T . Ray , said , " We are pleased to announce the successful completion of our merger with Mitsui . We are excited about the future of our company , especially with the backing and resources of a strong strategic owner like Mitsui and the opportunities it affords our customers , suppliers and employees " . Under the terms of the merger agreement , Steel Technologies ' shareholders will receive $ 30 per share in an all - cash transaction . The Company has appointed National City Bank , N . A . as paying agent for the merger consideration . National City Bank will contact shareholders directly with instructions and letter of transmittal forms for the surrender of stock certificates . Shareholders should not send forms and / or stock certificates to Steel Technologies , as this will only delay receipt of their cash payment . For more information concerning the process for obtaining payment for their shares , shareholders should contact National City Bank Shareholder Services at 1 - 800 - 622 - 6757 . Steel Technologies processes flat - rolled steel to specific thickness , width , temper , finish and shape requirements for automotive , appliance , lawn and garden , office furniture , agriculture , construction , hardware , and consumer goods . The Company operates 24 facilities , including its joint venture operations , located throughout the United States , Mexico and Canada . More information about the Company may be found on the World Wide Web at www.steeltechnologies.com . Statements contained in this release , which are not historical facts , are forward - looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 . Such forward - looking statements are subject to risks and uncertainties ( contained in the Company 's Securities and Exchange Commission filings ) , which could cause actual results to differ materially from those projected . SEC filings may be obtained from the SEC or by contacting the Company . - END -
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