JUNE 2008

  BUSINESS/ORGANIZATIONAL BRIEFS

Nucor forms joint venture with Duferco

Nucor Corporation has entered into an agreement to acquire 50% of Duferdofin-Nucor S.r.l., a new joint venture being created with Duferco S.A. for the production of beams in Italy and the distribution of beams in Europe and North Africa. The joint venture includes the Duferco Group’s Italian long product production assets and associated distribution companies.

Nucor will pay euro 423.5 million (approximately US$658 million) for its 50% equity stake in Duferdofin-Nucor.

The transaction is expected to close during the third quarter of 2008.

Hirschmann consolidates businesses

Belden Inc., headquartered in St. Louis, Missouri, has consolidated its affiliated Belden Europe (Venlo, The Netherlands), HEW-Kabel (Wipperfürth, Germany), Hirschmann Automation and Control (Neckartenzlingen, Germany) and Lumberg Automation (Schalksmühle, Germany) companies into the newly formed business unit of Belden EMEA.

Its operational headquarters will be located in the greater area of Stuttgart, Germany. Dr. Wolfgang Babel, who already headed Hirschmann and Lumberg Automation, was named president of Belden EMEA.

Besides a broad portfolio of copper and fiberoptic cables as well as automation components, Belden EMEA will also provide solutions for the communications technology in automation. To this end, the business unit plans to further complement its activities with proprietary developments as well as through acquisition. Turnover, which totalled approximately EUR 550 million in 2007, is expected to be doubled within the next few years.

IronPlanet promotes Mike Groves to senior VP

IronPlanet recently promoted Mike Groves to the position of senior vice president of North American sales. Groves will be responsible for IronPlanet’s continued growth in the United States, Canada and Mexico. Groves has been with IronPlanet for five years.

Before joining IronPlanet, Groves worked for 11 years in the auction industry as vice president and general manager of Forke Brothers and division manager of Ritchie Brothers. Groves also held the position of regional used equipment manager for Nortrax Southeast.

Verenium appoints John Dee to board of directors

Verenium Corporation announced the appointment of John F. Dee to its board of directors. The Company also announced that Geoffrey Hazlewood, Ph.D., senior vice president of research, has resigned for personal reasons effective May 31, 2008 and will be returning to his native England. Dr. Hazlewood will remain as an exclusive consultant to the Company and will join its scientific advisory board.

Dee served as president, chief executive officer, and director of Hypnion, Inc., a privately-held neurosciences drug discovery company. Before Hypnion, Dee spent three years as a “turn-around” CEO, specializing in reviving under-performing biotechnology companies including Genta, Inc. Prior to his move into biotechnology, Dee spent several years as a senior management consultant at McKinsey & Co., Inc., an international management consulting firm, where he led teams of senior executives in the development and implementation of new strategic directives and performance improvements.

Dee currently sits on the board of directors for NeuroPhage, Inc., a neuroscience company that develops biomanufacturing workflow methods and technologies for biopharmaceutical companies.

Commercial Metals acquires supply company

Commercial Metals Company has completed the acquisition of substantially all the operating assets of Rebar Services and Supply Company (RSS) of Fort Worth, Texas.

Established in 1982, RSS is a rebar fabricator that serves the North Texas area and has approximately 30 employees. The acquired assets will operate under the new name of CMC Rebar as part of CMC’s Americas Fabrication and Distribution segment.

Cherry appoints Joel Gutierrez as CFO

Joel Gutierrez has been named chief financial officer for Houston-based Cherry Companies, a construction and demolitions company. In his new role, Gutierrez oversees the financial operations of Cherry and handles all cash management for the company.

Gutierrez, who joined Cherry over four years ago, has more than 17 years of experience in accounting. He started out at Cherry as the assistant controller and then moved to the controller role.

Prior to Cherry, he served as the financial analyst and regional accountant at Philip Services Corporation, where he managed the financial statements for the Midwest region of the industrial services company.

Smurfit-Stone names new director of quality

Smurfit-Stone Container Corporation has named Julie Robinson director of quality for corporate accounts in the company’s Corrugated Container division.

Robinson will serve as a liaison between customers, corporate sales representatives and the company’s box plants, ensuring that internal and external customer quality requirements are met.

Robinson, a 30-year veteran of the packaging industry, previously served as general manager of Smurfit-Stone’s label plants in St. Charles, Illinois, and Greensboro, North Carolina. Those facilities were sold as part of Smurfit-Stone’s Consumer Packaging division divestiture in 2006.

Doosan president retires after 30 years of service

Lawrence Silber, president of Doosan Infracore Portable Power, formerly Ingersoll Rand Utility Equipment, had announced his retirement effective June 1, 2008, after 30 years of distinguished service.

Silber began his career with Ingersoll Rand working as a sales trainee in the professional tools group.

He moved into marketing and business management for that business unit, holding various positions such as regional and national sales manager. In 1989, Silber was promoted to vice president, holding that title in many capacities of the business: sales and worldwide marketing, automotive aftermarket and sales distribution operations. In 2006, Silber was named president of Ingersoll Rand Utility Equipment.

Selection of a new president is underway.

Olympic Wire new distributor for IPS Balers

Olympic Wire and Equipment, Inc., a supplier of products and service to the waste and recycling industry, has reached an agreement with Georgia-based IPS Balers, Inc. to become an authorized dealer for the company’s Conquest Series and Two-Ram Bale Tie Balers.

Olympic is now the authorized distributor of IPS equipment in California, Nevada and Arizona. The company also provides customers with regular maintenance and repair programs, making it the only IPS distributor to service these models in the western United States.

Austen joins Safety Vision as director of engineering

Safety Vision, a provider of mobile digital video solutions, has hired Russell Austen as director of engineering. In this new position, Austen will manage the company’s in-house engineering department at its Houston, Texas headquarters campus, which features on-site research & development, testing, and quality control labs. In league with Safety Vision Chief Technology Officer Christopher Fritz, he will steer conceptualization and design of the company’s evolving line of mobile digital video recorder (MDVR) systems and wireless data capture and management solutions.

Before joining Safety Vision, Austen held positions as system architect/design lead for Immersive Media, Inc./Freestone Systems, Inc. and Texas Instruments, Inc. in Dallas, Texas.

Patrick Harper joins MHF Packaging Solutions

MHF Logistical Solutions, Inc. announced that Patrick Harper has been named business development manager of the company’s packaging division, MHF Packaging Solutions.

Before joining MHF Packaging Solutions, Harper worked as a sales executive with EMA, a St. Louis, Missouri-based company specializing in industrial and commercial waste management, beneficial reuse programs, and environmental remediation and abatement projects.

His environmental sales and marketing background also includes roles with Illini Environmental, Haz-Waste, Inc. and Tri-Rinse, Inc.