The United Stainless Steel Company BSC was established in April 2005 in the Kingdom of Bahrain. • It’s formation is the culmination of over three years of evaluation and planning on the part of the Gulf Investment Corporation (GIC). – A full survey of the potential market was commissioned. – Plant configuration and overall design was worked up with the assistance of potential equipment suppliers and Outokumpu Stainless. – This resulted in the creation of a financial model which was used to judge the viability of the project. A Brief History of USCO – 2 • Four Major contacts were let in May 2004 – An EPC Contract to Danieli of Italy for the design, build and commissioning of the plant over a period of 27 months from the project effective date. – A Hot Band Supply Contract to Outokumpu Stainless of Finland for the supply of 2/3rds of the basic raw material required by USCO over a period of several years. – An Off Take agreement with Stemcor (a London based metals trader with a major branch in Dubai) whereby they will handle all sales of cold rolled product outside of our “domestic market” – A Technical Know -how and Assistance agreement with Outokumpu, who will supply detailed knowledge of the processes involved in the manufacture of cold rolled sheet and coil,