IPSCO Participates in Canadian Safeguard Request

Regina, Saskatchewan, 8 March 2002 -- IPSCO, as a steel manufacturer with operations in both Canada and the United States, has joined with other Canadian steel producers to request that the Government of Canada initiate a safeguard action. This action has been taken in response to continuing high levels of offshore steel entering the Canadian marketplace and causing injury to the domestic industry. In addition, the safeguard action will ensure that the Canadian market is not distorted by steel diverted in the market as a result of the recent U.S. safeguard decision and will ensure that Canada plays its role as a NAFTA partner in ensuring that the measures taken by the U.S. and by Mexico are as effective as they can be in restoring order in the integrated North American market. 

"The level of offshore imports in to Canada has already caused significant harm to the industry and this risk is only increasing," said David Sutherland, President and Chief Executive Officer, IPSCO Inc. "The repeated abuses of international trading rules, as evidenced by the ongoing positive trade case findings in both Canada and the USA, must be resolved in order to allow even the most modern steel suppliers to continue to be effective and competitive suppliers to steel using customers" he continued. "Moreover, the North American steel market is closely integrated and the actions of the United States have made it imperative that Canada act quickly to avoid the diversion of more offshore steel into Canada and in addition to ensure that Canada does not become a back door for offshore steel to enter the US market."

The safeguard request addresses a number of products including plate, hot rolled steel, and pipe, all of which IPSCO manufactures, as well as cold rolled and coated sheet, rebar, bars, shapes and structurals. 

While taking this action, IPSCO remains strongly of the belief that global overcapacity is the root cause of the industry's woes and that the reduction of overcapacity and elimination of subsidies and private anticompetitive practices throughout the world steel industry must be a continuing priority. IPSCO is supportive of governments working diligently toward a more uniform, fair and open global trading environment while maintaining all existing trade remedies.

Company Contact:
Anne Parker
Vice President, Trade Policy and Communications 
Tel. 630-810-4790

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