Keystone Consolidated Industries, Inc. (KYCN)

Keystone Consolidated Industries, Inc. ("KCI") is a leading domestic manufacturer of steel fabricated wire products, industrial wire, billets and wire rod. We also manufacture welded wire reinforcement, coiled rebar and, beginning in March 2007, steel bars and shapes. Our products are used in the agricultural, industrial, cold drawn, construction, transportation, original equipment manufacturer and retail consumer markets. We are vertically integrated, converting substantially all of our fabricated wire products, welded wire reinforcement, coiled rebar, industrial wire and steel bars and shapes from billets and wire rod produced in our steel mini-mill. Historically, our vertical integration has allowed us to benefit from the higher and more stable margins associated with fabricated wire products and welded wire reinforcement as compared to wire rod, as well as from lower production costs of wire rod as compared to wire fabricators that purchase wire rod in the open market. Moreover, we believe our downstream fabricated wire products, welded wire reinforcement, coiled rebar, industrial wire and steel bars and shapes businesses better insulate us from the effects of wire rod imports as compared to non-integrated wire rod producers.