HAMILTON, ON, July 22 /CNW/ - Dofasco announced today that it has successfully completed the acquisition of Quebec Cartier Mining Company (QCM) following receipt of regulatory approval. QCM is a leading producer of iron ore products in Quebec, with executive offices located in Montreal. The acquisition was previously announced on June 9, 2005. Dofasco effected the acquisition by purchasing all of the preferred shares of QCM owned by CAEMI of Brazil and Investissement Quebec for total consideration of $306 million. Dofasco already owned the remaining one third of the preferred shares. Effective July 22, 2005, all of the outstanding preferred shares of QCM have been converted into common shares, resulting in Dofasco holding approximately 98.7% of the common shares. "The completion of this acquisition will provide significant value for Dofasco shareholders," Don Pether, Dofasco's President and Chief Executive Officer, said commenting on the transaction. "Dofasco continues to work towards its goal of monetizing the value of QCM through an offering of QCM securities in the public markets." Dofasco is a leading North American steel solutions provider. Product lines include hot rolled, cold rolled, galvanized, Extragal(TM), Galvalume(TM) and tinplate flat rolled steels, as well as tubular products, laser-welded blanks and Zyplex(TM), a proprietary laminate. Dofasco's wide range of steel products is sold to customers in the automotive, construction, energy, manufacturing, pipe and tube, appliance, packaging and steel distribution industries. This News Release may contain forward-looking information with respect to Dofasco's operations and future financial results. Actual results may differ from expected results for a variety of reasons including the factors discussed in the Management's Discussion and Analysis section of Dofasco's 2004 Annual Report and the Quarterly Report to Shareholders for the period ended March 31, 2005.