SNF sold to American Iron & Metal

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SNF Inc.

February 2008

On February 4, 2008, an affiliate of American Iron & Metal Company Inc. ("AIM") completed the acquisition of the totality of the issued and outstanding common and preferred shares of SNF Inc. ("SNF") from its shareholders, Hametal Canada Inc. and the Fonds de solidarité des travailleurs du Québec. The acquisition has the effect of transferring control of thirteen direct and indirect SNF affiliates and their respective businesses to AIM.

AIM is a Montreal-based company founded in 1936 that recycles, buys and sells ferrous and non-ferrous metals in approximately 30 countries, including Canada, the United States, Mexico, China and Hong Kong. Founded thirty five years ago, SNF operates as a metal recycler in Québec and the Canadian Maritimes.

SNF was represented by Fasken Martineau with a team that consisted of Michel Boislard and Natasa Karambatsos (corporate/M&A), Angela Di Padova, Douglas C. New and Mark Magro (competition), Charles Kazaz (environment), Lise Rochette and Hsiao-Chen Lin (real estate) and Jean-François Perreault (tax).