879933--3/1/2007--IPSCO

related topics

{operation, international, foreign}

{debt, indebtedness, cash}

{cost, regulation, environmental}

{acquisition, growth, future}

{operation, natural, condition}

{gas, price, oil}

{condition, economic, financial}

{tax, income, asset}

{product, liability, claim}

{customer, product, revenue}

{cost, contract, operation}

{stock, price, operating}

{stock, price, share}

Our level of production and our sales and earnings are subject to significant fluctuations as a result of the cyclical nature of the steel industry and the industries we serve Imports of steel products into North America have, in recent years, adversely affected, and may yet again adversely affect, North American steel prices, which would impact the level of our sales, margins and profitability A reduction or slowdown in China s steel consumption could have a material adverse effect on global steel pricing and could result in increased steel exports into North America Excess global capacity in the steel industry and the availability of competitive substitute materials has resulted in intense competition and may exert downward pressure on our pricing We may be unable to continue to pass on increases in the cost of scrap and other raw materials to our customers, which would reduce our earnings Fluctuations in inventory levels of oilfield products and service center products could adversely affect our sales Fluctuations in the value of the U.S. dollar relative to other currencies may adversely affect our business Unexpected equipment failures may lead to production curtailments or shutdowns Potential product liability claims relating to the products we manufacture We may face risks associated with the implementation of our growth strategy Environmental regulation imposes substantial costs and limitations on our operations Our business requires substantial capital investment and maintenance expenditures, which we may be unable to provide Variability in weather conditions may affect our production and sales Our stock price may be volatile and could decline substantially We may not continue to pay cash dividends in the future Our revolving credit facility contains restrictive covenants that could limit our ability to operate our business in the most efficient manner If we fail to successfully integrate the operations of NSG, the combined company may not realize the potential benefits of the acquisition If we have to write-off a significant amount of goodwill and other intangible assets, our earnings will be negatively affected We have indebtedness and debt service requirements which limits our financial and operating flexibility

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879933--3/1/2007--IPSCO_INC