Steel Dynamics

Steel Dynamics, Inc.
Public company
Traded as NASDAQ: STLD
S&P 400 Component
Industry Metals
Founded 1993
Headquarters Fort Wayne, Indiana, United States
Key people
 Mark Millett (President & CEO)
Keith Busse (Chairman of the Board)[1]
Products Steel
Production output
 9.503 million tons of steel (2016)[1]
Revenue Increase US$7.777 billion (2016) [1]
Increase US$0.727 billion (2016) [1]
Increase US$0.382 billion (2016) [1]
Total assets Increase US$6.423 billion (2016) [1]
Total equity Increase US$2.777 billion (2016) [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

With a production capacity of 11 million tons, Steel Dynamics is the 4th largest producer of carbon steel products in the United States. 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

Along with other steel producers, the company was a defendant in a price-fixing lawsuit.[7] The case was settled and Steel Dynamics agreed to pay $4.6 million.[8]

See also

References

  1. 1 2 3 4 5 6 7 8 Steel Dynamics Inc. 2016 Form 10-K Annual Report
  2. ↑ Supplemental Financial Information
  3. ↑ History of Steel Dynamics
  4. ↑ "Steel Dynamics Agrees to Acquire The Techs" (Press release). PRNewswire. June 13, 2007.
  5. ↑ "Steel Dynamics Completes the Acquisition of OmniSource Corporation" (Press release). PRNewswire. October 26, 2007.
  6. ↑ "Steel Dynamics Completes Acquisition of Severstal Columbus" (Press release). PRNewswire. September 16, 2014.
  7. ↑ "Three Steel Companies Hold their Ground in Price-Fixing Lawsuit". US Glass News Network. November 30, 2015.
  8. ↑ Jessica Corso (November 3, 2016). "Final Piece Of $194M Steel Price-Fix Settlement Clears Hurdle". Law360.


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