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April 10, 2017

Metals Service Center Institute Applauds SEC Conflict Minerals Announcement

Metals Service Center Institute Applauds SEC Conflict Minerals Announcement

Rolling Meadows, Ill., April 10, 2017— M. Robert Weidner, III, president and CEO of the Metals Service Center Institute (MSCI), issued the following statement today on the U.S. Securities and Exchange Commission’s (SEC) decision to halt compliance with key aspects of its conflict minerals regulation:

“MSCI and its members are very pleased with the SEC’s decision last Friday to halt compliance with the most burdensome portions of its conflict minerals regulation. This rule has imposed huge costs on businesses in the industrial metals supply chain. At the same time, the regulation hasn’t improved the lives of the men and women living and working in conflict areas as it was meant to do. While MSCI believes that regulations are necessary to ensure consumer and worker well being, overregulation imposes significant costs on Americans without improving their daily lives or enhancing their safety or prosperity. That’s certainly true in the case of the SEC’s conflict minerals rule, and we applaud the SEC’s action Friday.”

About MSCI

Founded in 1909, the Metals Service Center Institute is a nonprofit association based in Rolling Meadows, Ill., serving the industrial metals supply chain. It serves more than 300 members in over 1,200 locations in North America. For more information, visit www.MSCI.org, MSCI’s online resource MSCI.org/Edge, like us on Facebook, follow us on Twitter, and connect with us on LinkedIn.