Date:  May 08, 2007

Press Release Number:  36


WTC MEMORIAL FOUNDATION AND PORT AUTHORITY AWARD FULL STEEL PACKAGE FOR CONSTRUCTION OF MEMORIAL AND MUSEUM

Leading Steel Contractor Owen Steel Company, Inc.
To Supply, Fabricate and Erect Steel


The World Trade Center Memorial Foundation and the Port Authority of New York and New Jersey today announced that Owen Steel Company, Inc. was selected to provide both the jumbo and structural steel packages for construction of the World Trade Center Memorial and Museum. Owen Steel Company will be responsible for all services required for the supply, fabrication and erection of the structural steel members, including procurement, engineering, trucking, and delivery. The Executive Committee of the Foundation’s Board of Directors approved the award of the full steel package to Owen during a meeting yesterday afternoon.

“Owen Steel joins a team of individuals and companies that is committed to this project of profound importance to the City, to the state, and to the country,” World Trade Center Memorial Foundation President & CEO Joe Daniels said. “This award serves as another clear signal to our contributors, and to the public-at-large, that the historic effort to build the World Trade Center Memorial is making progress. Late this year visitors to the site will begin to see the structure of the Memorial and the Museum take shape as the steel is erected at the site.”

Port Authority Executive Director Anthony E. Shorris said, “The Port Authority is deeply committed to the construction of an appropriate Memorial at the World Trade Center site. On what are perhaps the 16 busiest acres in the world, there is no more important task than honoring the 84 agency employees and the nearly 2,700 others who lost their lives on 9/11. Nearly a year ago, we assumed the enormous responsibility for building the Memorial to make sure that it becomes the centerpiece of the rebuilt World Trade Center site for those who lost loves ones on that tragic day nearly six years ago. This contract will ensure that progress on this important project continues on schedule.”

The jumbo steel represents approximately 20% of the steel members for the project. Only two steel mills in the world produce sections of steel which fit both the jumbo steel size requirements and US specifications. Under the direction of Owen Steel Company, the jumbo steel will be rolled at Arcelor Mittal in Luxembourg and shipped to the United States later this year for fabrication. The remaining 80% of the structural steel will be rolled at domestic mills and delivered to Owen Steel for fabrication.

Fabrication will begin later this year, and the first pieces of steel are expected to be erected at the World Trade Center site in December 2007. The erector will be Cornell & Company.

Owen Steel President David Zalesne said, “We are incredibly proud and grateful that the Memorial Foundation and the Port Authority entrusted this landmark project to Owen Steel. The Memorial will teach and remind the world about defining events in American history and our lifetimes, and it is an honor for our company and our employees to have a role in its construction.”

Although the majority of the structural steel contract work is exclusively for the Memorial and Museum project, certain elements of the structural steel package are required to support future WTC Site common infrastructure components and facilities. The Port Authority of New York and New Jersey will be responsible for a portion of the costs relating to shared infrastructure.

In December 2006, the Foundation, through its construction manager Bovis Lend Lease, issued an Invitation to Bid for structural steel. Complete and responsive bids were received from three firms, including Owen.

Construction of the Memorial began in March 2006 with preliminary work to cover the original box beam columns that outline the perimeters of the Twin Towers. In August 2006, heavy construction work began to build the footings which will hold up the Memorial, Museum, and Plaza. Work on the footings is expected to be complete in the third quarter of 2007.

In July 2006, the Port Authority and the World Trade Center Memorial Foundation came to an agreement with the City and State of New York, regarding the construction of the WTC Memorial and Museum. The Port Authority agreed to assume responsibility for the construction, working in partnership with the Foundation which assumed responsibility for finalizing the Memorial and Museum designs in addition to its responsibility to operate the site after opening.

ABOUT OWEN STEEL COMPANY, INC.

Owen Steel Company, headquartered in Columbia, South Carolina, was founded in 1936, and is among the leading contractors for complex structural steel work, with a long track record of high profile projects in the United States. Owen is also a New York State certified women-owned and minority-owned business enterprise.
The Company provides complex structural steel engineering, fabrication and management services to general contractors, project owners and engineering firms for the construction industry.
Owen has worked with the largest U.S. general contractors and has been involved in the construction of more than 50 major office towers, stadiums, arenas, airports and convention centers throughout the United States, including the JFK Airport International Arrivals Terminal, the Chicago Bulls Arena, Four Times Square and the Mellon Bank Center, among others. Owen is currently completing the structural steel at One Bryant Park, a 54-story building with 2.1 million square feet, and recently finished fabricating steel for the New York Times Building, Citigroup, Memorial Sloan Kettering Hospital, the Metropolitan Transportation Authority Bus Depot and Xanadu at the Meadowlands.

ABOUT THE PORT AUTHORITY

The Port Authority of New York and New Jersey operates many of the busiest and most important transportation links in the region. They include John F. Kennedy International, Newark Liberty International, LaGuardia and Teterboro airports; AirTrain JFK and AirTrain Newark; the George Washington Bridge and Bus Station; the Lincoln and Holland tunnels; the three bridges between Staten Island and New Jersey; the PATH (Port Authority Trans-Hudson) rapid-transit system; the Port Authority-Downtown Manhattan Heliport; Port Newark; the Elizabeth-Port Authority Marine Terminal; the Howland Hook Marine Terminal on Staten Island; the Brooklyn Piers/Red Hook Container Terminal; and the Port Authority Bus Terminal in midtown Manhattan. The agency also owns the 16-acre World Trade Center site in Lower Manhattan.

The Port Authority is financially self-supporting and receives no tax revenue from either state.

ABOUT THE WORLD TRADE CENTER MEMORIAL FOUNDATION

The World Trade Center Memorial Foundation, Inc. is the not-for-profit corporation founded in 2005 to realize the Memorial quadrant at the World Trade Center site. The Foundation will raise the funds, oversee the design, and operate the Memorial and Museum located on 8 of the 16 acres of the site.