Stelax Delivers NUOVINOX™ Rebar For Hawaiian Electric Company Project
DALLAS, TX – (MARKET WIRE) -- 2/22/05 -- (Stelax Industries Ltd. (OTC: “STAX”) (Euronext Symbol: “STAX”) / Stelax International Ltd. today announced that Stelax, Inc. has delivered NUOVINOX rebar for use at the Hawaiian Electric Company (HECO) - Waiau Power Plant on the island of Oahu located at Pearl City, Hawaii. Hawaiian Electric is the power utility serving the Hawaiian Islands with facilities on all the islands. HECO engineers have indicated that reinforcing bar corrosion is a significant problem in Hawaii and this is their first use of NUOVINOX to address the corrosion problems with a more durable cost effective maintenance free solution.
Paradise Reinforcing, Inc. of Waipahu, Hawaii is coordinating NUOVINOX delivery of the HECO order on behalf of Stelax. Mr. Glenn Eugenio, President of Paradise stated: “We look forward to working with Stelax to further address market applications for NUOVINOX here in Hawaii. Considering the tropical island conditions, reinforcing bar corrosion has long been a problem throughout the islands and I believe the use of Stelax stainless steel clad NUOVINOX will best address this problem and prove to be the most reliable and cost effective solution available.”
The NUOVINOX shipment has arrived on island thereby completing delivery for this contract.
Harmon Hardy, Chairman of the Stelax companies stated: “Hawaiian Electric’s use of NUOVINOX is our second power utility related project following the Scottish & Southern Energy, Plc., Nant Power Station high-pressure water tunnel repair project in Scotland. We look forward to working with Hawaiian Electric on follow up projects so as to provide a more reliable long term solution to the corrosion problems they have experienced at their various island power facilities. Since AASHTO approval, NUOVINOX is repeatedly being recognized as the most cost effective solution to address a variety of corrosion problems and we are pleased NUOVINOX is a valued material for the engineers in Hawaii.”
Stelax International Ltd. manufactures NUOVINOX in Wales, United Kingdom and produces two separate product lines through the Aberneath facility: “NUOVINOX*”, a stainless steel cladded product with a carbon steel core utilizing the company's unique patented manufacturing process and “StelaBlast*”, steel abrasive shot pellets which are used as an abrasive cleaner and polisher in steel manufacturing. Distribution relationships have been set up for NUOVINOX in Japan, United Kingdom, and Hong Kong.
This press release contains forward-looking statements identified by words such as "believe", "expect", "anticipates" and similar expressions. Actual results might differ materially from those projected in, expressed in or implied by the forward-looking statements, which speak only as to management's expectations this date.
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For Further Information Contact:
Ross E. Paulson
Stelax, Inc.
Stelax Industries Ltd.
Stelax International Ltd.
P/F: (+1) 425 823-1913
E: rpaulson@stelax.com
W: www.stelax.com