IPSCO Inc. announced a third quarter sales record of $641.9 million, up 92% over the same period last year. Sales through nine months of 2004 were $1.7 billion, an increase of 83% over the same period of 2003. Net income was $242.2 million through nine months, compared with a net loss of $5.2 million in the same period a year before.

“IPSCO's strong operating results are being driven by demand in North America for plate steel and for oil and gas tubular products,” said President and CEO David Sutherland. “This appears to be an industry-wide reality.”

In other IPSCO news, the company and its employees have contributed almost $60,000 to support those in Alabama most affected by Hurricane Ivan. In the immediate aftermath of the hurricane, IPSCO employees throughout North America made personal contributions totally nearly $15,000 to directly assist co-workers at IPSCO's Mobile Steelworks. The company then matched those donations.

Since then, employees and matching company funds added up to another $30,000 to be donated to the Hurricane Ivan Response Fund, set up to support local agencies in southern Alabama that are involved in the relief effort.