At IPSCO, we continue to shape our business in ways that help deliver superior results throughout the full business cycle. Over the past few years, we have built robust platforms for growth through significant investment in three of the most dynamic sectors in the steel industry - plate, energy tubulars and large diameter pipe. Together, they represent a well diversified revenue stream that's contributed to IPSCO's stable earnings growth. What's more, our facilities have the flexibility to migrate product mix based on changes in demand. Our "steel short" strategy, which sizes internal steel-making capacity to meet demand for finished products during the weakest part of the cycle, also helps to optimize capacity utilization.