July 10 (Reuters) - Tree Island Steel Ltd TSL.TO :
* TREE ISLAND ANNOUNCES ENGAGEMENT OF FINANCIAL ADVISOR
* TREE ISLAND STEEL LTD - HAS ENGAGED PWC TO PREPARE A FORMAL VALUATION OF COMPANY
* TREE ISLAND STEEL - ENGAGED PWC TO ASSIST SPECIAL COMMITTEE IN ITS EVALUATION OF NON-BINDING PROPOSAL BY FUTURA CORPORATION AND ARBUTUS DISTRIBUTORS