6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
"We were pleasantly surprised with the strength of the market in the first quarter of 2006," said Neil S. Novich, Chairman, President, and CEO of Ryerson. "With strong market conditions and mill price increases, we realized higher prices as the quarter progressed. However, our volume in the quarter was affected by the loss of two large accounts ﾖ one of which went mill direct while the other relocated operations offshore. We continued to make progress on the Integris integration, with annualized cost synergies by first quarter end 2006 exceeding half of our $50 million target, offset mainly by inflationary increases in certain operating expenses."
"While market conditions remain strong, we are experiencing some spot shortages as mill lead times extend and imports are becoming less available," concluded Novich. "We continue to make progress rolling out SAP and realizing the synergies of the Integris acquisition."