8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant To Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of report (Date of earliest event reported):  June 12, 2007
IPSCO INC.
(Exact Name of Registrant as Specified in Charter)
Canada	001-14568	98-0077354
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
650 Warrenville Road, Suite 500, Lisle, Illinois		60532
(Address of Principal Executive Offices)		(Zip Code)
Registrant’s telephone number, including area code:  (630) 810-4800
N/A
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events.

On June 12, 2007, IPSCO Inc. (“IPSCO”) and SSAB Svenskt Stål AB (“SSAB”) issued a joint press release (the “Press Release”) announcing the expiration of the Hart-Scott-Rodino waiting period in connection with SSAB’s proposed acquisition of IPSCO.

The foregoing is qualified by reference to the Press Release, which is filed as Exhibit 99.1 to this Report and is incorporated herein by reference.

*      *      *

ADDITIONAL INFORMATION AND WHERE TO FIND IT

In connection with the proposed transaction, on June 11, 2007 IPSCO filed with the United States Securities and Exchange Commission (“SEC”) a definitive proxy statement on Schedule 14A regarding the proposed plan of arrangement.  Before making any voting or investment decisions, investors and security holders are urged to read the definitive proxy statement and any other relevant documents filed with the SEC because they will contain important information.  The definitive proxy statement will be sent to the shareholders of IPSCO seeking their approval of the proposed transaction.  In addition you may obtain this document free of charge at the website maintained by the SEC at www.sec.gov.  Also, you may obtain documents filed with the SEC by IPSCO free of charge by requesting them in writing from 650 Warrenville Road, Suite 500, Lisle, Illinois 6053, or by telephone at (630) 810-4800.

PARTICIPANTS IN THE SOLICITATION

IPSCO and its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information regarding IPSCO’s directors and executive officers is available in IPSCO’s proxy statement for its 2007 annual meeting of shareholders, which was filed with the SEC on March 21, 2007and in the definitive proxy statement filed with the SEC on June 11, 2007.  Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of IPSCO shareholders in connection with the proposed transaction will be set forth in the preliminary proxy statement when it is filed with the SEC.

FORWARD-LOOKING STATEMENTS

This document and the exhibits hereto contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and under Canadian securities law.  The words “believe”, “expect”, “will”, “can” and other expressions that are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking statements.  Although IPSCO and SSAB believe the anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the IPSCO or SSAB to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements and information.  Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include: weather conditions affecting the oil patch; drilling rig availability; demand for oil and gas; supply, demand and price for scrap metal and other raw materials; supply, demand and price for electricity and natural gas; demand and prices for products produced; general economic conditions; a significant change in the timing of, or the imposition of any governmental conditions; the extent and timing of our ability to obtain revenue enhancements and cost savings following the transaction; changes in financial markets, the actions of courts, government agencies, and other third parties, SSAB’s ability to implement successfully its plans and other factors.  These and other factors with respect to IPSCO are outlined in IPSCO’s regulatory filings with the SEC and Canadian securities regulators, including those in the IPSCO’s 2006 Form 10-K, and its MD&A, particularly as discussed under the heading “Risk Factors”.  These forward-looking statements speak only as of the date of this press release.  Neither IPSCO nor SSAB undertakes any obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

Exhibit No.	Description
99.1	Press Release of IPSCO and SSAB, dated June 12, 2007 regarding expiration of the Hart-Scott-Rodino waiting period.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	IPSCO INC.
Date:    June 12, 2007	By:	/s/ Leslie T. Lederer
		Name:	Leslie T. Lederer
		Title:	Vice President, General Counsel & Corporate Secretary

EX-99.1

Exhibit 99.1

News Release

SSAB AND IPSCO JOINTLY ANNOUNCE EXPIRATION

OF HART-SCOTT-RODINO WAITING PERIOD

[Lisle, Illinois and Stockholm, Sweden] [June 12, 2007] – IPSCO Inc. (NYSE/TSX:IPS) and SSAB Svenskt Stål AB (SSAB) jointly announced today the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the proposed plan of arrangement pursuant to which IPSCO would be acquired by SSAB for a cash consideration of U.S. $160 per share.

The expiration of the Hart-Scott-Rodino waiting period satisfies one of the conditions to SSAB’s acquisition of IPSCO. Consummation of the plan of arrangement, which is expected to occur in the third quarter of 2007, remains subject to other customary closing conditions, including approval of the plan of arrangement by IPSCO’s shareholders and obtaining certain regulatory approvals.

IPSCO, traded as IPS on both the New York Stock Exchange and Toronto Stock Exchange, operates steel mills at three locations and pipe mills at eight locations in the United States and Canada. IPSCO is a low cost North American steel producer, and has a combined annual steel making capacity of 3,500,000 tons. The Company's tubular facilities produce a wide range of tubular products including oil and gas well casing and tubing, line pipe, standard pipe and hollow structurals. Steel can also be further processed at IPSCO's five temper leveling or coil processing facilities. For more information about IPSCO, log on to www.ipsco.com.

SSAB is a Swedish based publicly traded corporation with a leading European position in Quenched & Tempered heavy plate and EHS/UHS steel sheet. The Group comprises four divisions: Division Sheet and Division Heavy Plate are the steel operations with steel shipments of 3.1 million metric tonnes in 2006, Plannja is a processing company in building products, and Tibnor is the Group's trading arm supplying a broad product range of steel and metals. The Group has sales revenues of almost US$ 4.6 billion. SSAB has 8,800 employees and has operations or offices in over 40 countries and a worldwide sales presence. For more information about SSAB, log on to www.ssab.com.

This document contains forward-looking statements based on assumptions that are subject to a wide range of business risks, including consummation of the Plan of Arrangement being dependent on the satisfaction of customary closing conditions, including the approval of IPSCO’s shareholders and obtaining of any required regulatory approvals. There is no assurance that the estimates and expectations in this release will be realized. Important factors that could cause actual results to differ materially from the forward-looking statements are described in the periodic filings of IPSCO with the United States Securities

and Exchange Commission (“SEC”), including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. IPSCO does not undertake any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

Important Information:

This communication is being made in respect of the proposed plan of arrangement involving SSAB and IPSCO. In connection with the proposed transaction, IPSCO has filed with the SEC on June 11, 2007 a definitive proxy statement on Schedule 14A regarding the proposed Plan of Arrangement and will file such proxy statement with the Canadian Securities Administrators. Before making any voting or investment decisions, investors and security holders are urged to read the definitive proxy statement when it becomes available and any other relevant documents filed with the SEC because they will contain important information. The definitive proxy statement will be sent to the shareholders of IPSCO seeking their approval of the proposed transaction. In addition you may obtain this document free of charge at the website maintained by the SEC at www.sec.gov or at the website www.sedar.com. Also, you may obtain documents filed with the SEC by IPSCO free of charge by requesting them in writing from 650 Warrenville Road, Suite 500, Lisle, Illinois 60532, or by telephone at (630) 810-4800.

IPSCO and its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information regarding IPSCO’s directors and executive officers is available in IPSCO’s proxy statement for its 2007 annual meeting of shareholders, which was filed with the SEC on March 21, 2007 and in the definitive proxy statement filed with the SEC on June 11, 2007. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of IPSCO shareholders in connection with the proposed transaction is set forth in the definitive proxy statement filed with the SEC.

SSAB Company Contacts:
Corporate Communications Tommy Löfgren Tel. +46 70-525 94 14 tommy.lofgren@ssab.co	Investor Relations Stefan Lundewall Tel. +46 70-508 28 57 stefan.lundewall@ssab.com

IPSCO Company Contact:

Tom Filstrup, Director of Investor Relations

Tel. 630 810-4772

tfilstrup@ipsco.com

IPS Ref#07-15

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