Youngstown Sinter Plant To Be Idled Effective July 15, 2001

Apr 30, 2001, 01:00 ET from WCI Steel, Inc.

    WARREN, Ohio, April 30 /PRNewswire/ -- The Youngstown Sinter Co., a
 wholly-owned subsidiary of WCI Steel, Inc., will idle its Youngstown, Ohio
 plant indefinitely effective July 15, 2001.
     The idling of the sinter plant will result in annual cost savings of
 approximately $2.3 million based on WCI's current operating levels. WCI will
 take a $3.9 million charge against its second fiscal quarter ending April 30,
 2001 to reflect plant idling costs, of which $3 million represents the
 writedown of the assets of the facility.
     The 58 employees at the sinter plant have been notified of the idling as
 required by the Workers Readjustment and Retraining Notification Act. The
 employees will receive health benefits for at least six months and WCI is
 currently reviewing employment opportunities for affected sinter plant workers
 at WCI's Warren plant. The sinter plant may be restarted in the future if
 economically advantageous.
     The plant, which has been operating since 1991, produces a porous cavity-
 like material that is used as a substitute feed stock for WCI's blast furnace.
 Steelmaking byproducts such as slag and iron fines are processed at the
 Youngstown plant into sinter.
     Operations at the plant are expected to continue through July 15, followed
 by an orderly shutdown of the facility that is scheduled to last two weeks.
     WCI Steel is an integrated steelmaker producing more than 185 grades of
 custom and commodity flat-rolled steels. WCI products are used by steel
 service centers, convertors, electrical equipment manufacturers and the
 automotive and construction industries. Visit our website at
 www.wcisteel.com .
 
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SOURCE WCI Steel, Inc.
    WARREN, Ohio, April 30 /PRNewswire/ -- The Youngstown Sinter Co., a
 wholly-owned subsidiary of WCI Steel, Inc., will idle its Youngstown, Ohio
 plant indefinitely effective July 15, 2001.
     The idling of the sinter plant will result in annual cost savings of
 approximately $2.3 million based on WCI's current operating levels. WCI will
 take a $3.9 million charge against its second fiscal quarter ending April 30,
 2001 to reflect plant idling costs, of which $3 million represents the
 writedown of the assets of the facility.
     The 58 employees at the sinter plant have been notified of the idling as
 required by the Workers Readjustment and Retraining Notification Act. The
 employees will receive health benefits for at least six months and WCI is
 currently reviewing employment opportunities for affected sinter plant workers
 at WCI's Warren plant. The sinter plant may be restarted in the future if
 economically advantageous.
     The plant, which has been operating since 1991, produces a porous cavity-
 like material that is used as a substitute feed stock for WCI's blast furnace.
 Steelmaking byproducts such as slag and iron fines are processed at the
 Youngstown plant into sinter.
     Operations at the plant are expected to continue through July 15, followed
 by an orderly shutdown of the facility that is scheduled to last two weeks.
     WCI Steel is an integrated steelmaker producing more than 185 grades of
 custom and commodity flat-rolled steels. WCI products are used by steel
 service centers, convertors, electrical equipment manufacturers and the
 automotive and construction industries. Visit our website at
 www.wcisteel.com .
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X58963879
 
 SOURCE  WCI Steel, Inc.