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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8 - K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): March 22, 2000 (March 20,
2000)
NATIONAL STEEL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
1-983 25-0687210
(Commission File Number) (IRS Employer Identification No.)
4100 Edison Lakes Parkway, Mishawaka, IN 46545-3440
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 219-273-7000
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ITEM 5. OTHER EVENTS
National Steel Corporation issued a press release on March 20, 2000 announcing
an e-Commerce alliance with e-STEEL Corporation. A copy of this press release is
attached hereto as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit 99.1 Press release dated March 20, 2000.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NATIONAL STEEL CORPORATION
Date: March 22, 2000 By: /s/ Glenn H. Gage
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Glenn H. Gage
Senior Vice President and Chief Financial Officer
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Exhibit 99.1
[LETTERHEAD OF NATIONAL STEEL] [LETTERHEAD OF e-STEEL]
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NEWS RELEASE
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Media Contacts: Clarence J. Ehlers (National Steel)
(219) 273-7327
Sherry Sigler (e-STEEL)
[email protected]
(917) 464-0445
Analyst and Joseph A. Rainis (National Steel)
Investor Contact: (219) 273-7158
NATIONAL STEEL PICKS e-STEEL FOR e-COMMERCE
Fourth Largest U.S. Steel Producer Cites
e-STEEL Vision and Customer Service Enhancement Capabilities
Mishawaka, IN and New York, NY, March 20, 2000 - National Steel Corporation
(NYSE: NS), the fourth largest integrated U.S. steel producer, and e-STEEL
Corporation, the online global marketplace for the $700 billion steel industry,
today announced an important multi-year e-Commerce alliance. Under the terms of
the agreement, National will begin using the e-STEEL Exchange (www.e-steel.com)
for selling steel products. Within two years, National's strategic goal is to
use e-STEEL to transact an important percentage of its annual production.
"National's strong customer service reputation makes this alliance an important
element of our overall strategy to put our customers first," said National Steel
President and COO John A. Maczuzak. "We believe e-STEEL is a solution that
streamlines customer service, provides significant efficiency gains and supports
our customers in their evolution to e-Commerce."
National Steel is one of the largest U.S. producers of carbon flat-rolled steel
products and the largest supplier of flat rolled products to the construction
industry. The Company also was rated No. 1 in terms of overall customer
satisfaction among all U.S. and Canadian carbon sheet steel producers last year
according to an annual survey conducted by Jacobson & Associates.
"We are thrilled to welcome National Steel, one of the steel industry's most
prominent and customer service dedicated manufacturers, to e-STEEL," said e-
STEEL Founder, Chairman and CEO Michael S. Levin. "Like National, e-STEEL
believes in building strong customer relationships. This very important dynamic
is the foundation of our STEELDIRECT technology, which gives steel companies a
unique, compelling and customizable online way to enhance their commercial
relationships."
-more-
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Exhibit 99.1
Additionally, National Steel has just implemented Phase One of a comprehensive
electronic order fulfillment system. Earlier this month, e-STEEL announced a
major co-marketing alliance with National Steel's systems consultant which will
enable steel buyers and sellers throughout the global steel value chain to
accelerate integration of their business systems to e-STEEL systems. As a
result, National expects to develop improved methods to sell steel products
through more efficient transaction processing.
"These endorsements of e-STEEL, and e-Commerce, are further validation of our
vision for a global electronic marketplace that works for all segments of the
steel value chain, regionally and globally," Levin added.
New York City-based e-Steel Corporation is an Internet-based, neutral
marketplace for prime and secondary products serving the $700 billion global
steel industry. Its electronic commerce solution web site unites buyers and
sellers and provides an array of resources for sales and purchasing
professionals throughout the steel value chain. Since launching its
marketplace in September 1999, more than 1600 companies have become members of
the e-STEEL Exchange representing all of the key segments of the steel value
chain. In addition to the alliance with National, e-STEEL has completed major
industry alliances with other prominent global leaders.
e-STEEL is backed by a blue-chip group of business and industry strategic
investors, led by Goldman, Sachs & Co.
Founded in September 1998, e-STEEL has 120 employees and offices in New York
City, Chicago, Pittsburgh, Detroit, Atlanta, Brussels, Tokyo and Singapore.
Headquartered in Mishawaka, Indiana, National Steel Corporation
(www.nationalsteel.com) is one of the nation's largest producers of carbon flat
rolled products with annual shipments of approximately six million tons.
National Steel employs approximately 9,200 employees.
