Scaw International Acquires AltaSteel

On January 31, 2006, Scaw International Sarl, through its wholly-owned subsidiary Moly Cop Steel Inc., completed its previously announced acquisition of AltaSteel Ltd. from Stelco Inc. The amount of the transaction is undisclosed.

Scaw was represented by James Harman, vice-president legal for Anglo American plc, Scaw's parent corporation, with assistance from Osler, Hoskin & Harcourt LLP with a team comprised of Steven Smith, Randall Pratt, Colin Berryman and Jasmine Lew (corporate), Tony Devir and Deron Waldock (pensions), Peter Franklyn and Paul Winton (competition), Robin Schwill (insolvency) and Kelly Moffatt (IP), and David Côté (labour and employment) and Sheldon Plener (business) of Cassels Brock & Blackwell LLP.

Stelco was represented by McCarthy Tétrault LLP with a team comprised of Daryl McLean, Lara Nathans, Ana Badour and David Randell (business), Tony Kurian (bankruptcy and restructuring) and Alfred Macchione (IP), and by Hicks Morley Hamilton Stewart Storie LLP with a team comprised of Steve Shamie, Elizabeth Brown and Susan Nickerson (pensions and labour).

Alex Morrison, Brent Beekenkamp and Todd Ambachtsheer of Ernst & Young Inc., Stelco's court appointed monitor in its proceedings under the CCAA, were represented by Kyla Mahar and Larry Ellis of ThorntonGroutFinnigan LLP.