Steel Dynamics

Steel Dynamics, Inc.
Public company
Traded as NASDAQ: STLD
Industry Metals
Founded 1993
Headquarters Fort Wayne, Indiana, United States
Key people

President & CEO Mark Millett

Chairman of the Board Keith Busse [1]
Products Steel
Production output
 7.7 million tons of steel (2015)[1]
Revenue Decrease US$7.594 billion (2015) [1]
Decrease -US$73 million (2015) [1]
Decrease -US$130 million (2015) [1]
Total assets Decrease US$6.202 billion (2015) [1]
Total equity Decrease US$2.545 billion (2015) [1]
Number of employees
 7,510 [1]
Website www.steeldynamics.com

Steel Dynamics, Inc., sometimes abbreviated as "SDI", is a steel producer based in Fort Wayne, Indiana.

Current operations

Steel Dynamics is the 4th largest producer of carbon steel products in the United States. In 2015, the company produced and shipped 7.7 million tons of steel and the company has a production capacity of 11 million tons of steel. SDI is among the most profitable American steel companies in terms of profit margins and operating profit per ton.[2]

History

Steel Dynamics was founded in 1993 by three former executives of Nucor with $370 million in funding. It began production at its $275 million Butler, Indiana, flat roll mill in 1996 and reported its first annual profit in 1997. The company offered many incentive programs for employees to cut cost and improve standards and outperformed most other steel manufactures during the economic downturn at the turn of the century.[3]

In 2007, Steel Dynamics acquired The Techs, three hot-dip galvanizing plants in Pittsburgh that coat flat-rolled steel,[4] and OmniSource Corporation.[5]

In 2014, Steel Dynamics acquired Severstal Columbus for $1.625 billion. The acquisition increased the company's production capacity to 11 million tons.[6]

In 2012 Richard Sarver, an employee of Steel Dynamics' Roanoke Bar Division, wrote Taking the Heat - A Steelworker's Story, a 271-page memoir based on his 32 years of service at the Roanoke Electric Steel Corporation, which was acquired by Steel Dynamics in 2006.

Controversies

Price-fixing allegations

The company is a defendant in a price-fixing lawsuit.[7]

Notes

  1. 1 2 3 4 5 6 7 8 Steel Dynamics Inc. 2015 Form 10-K Annual Report
  2. ↑ Supplemental Financial Information
  3. ↑ History of Steel Dynamics
  4. ↑ "Steel Dynamics Agrees to Acquire The Techs". Steel Dynamics. June 13, 2007.
  5. ↑ "Steel Dynamics to Acquire OmniSource Corporation". Steel Dynamics. October 1, 2007.
  6. ↑ "Steel Dynamics Completes Acquisition of Severstal Columbus". Steel Dynamics. September 16, 2014.
  7. ↑ "Three Steel Companies Hold their Ground in Price-Fixing Lawsuit". US Glass News Network. November 30, 2015.


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