Lagermex, SA de CV, is LTV's first direct investment in the growing Mexican steel processing industry. The facility is located in Puebla, Mexico, some 80 miles southeast of Mexico City.

Lagermex will be the sole producer of steel blanks for the newly introduced VW Beetle and other vehicles produced by Volkswagen de Mexico, which is its largest customer.

Lagermex began warehousing steel coils, providing inventory management and just-in-time delivery in late 1997. The company installed its first slitting and blanking equipment in January 1998.

LTV has a 25% interest in Lagermex, which is among the most modern and efficient steel processing and automotive blanking facilities of its kind in Mexico. LTV's joint venture partners are Krupp Hoesch Stahlexport GmbH (KHS), a leading German company, and local plant management.

Lagermex expands LTV's role in the global automobile industry, increases its international presence and contributes to the Company's strategy of achieving profitable growth in steel-related businesses.

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