Printer Friendly

KEITH BUSSE RESIGNS FROM NUCOR CORP. TO FORM NEW MINI-MILL VENTURE

 CRAWFORDSVILLE, Ind., Sept. 7 /PRNewswire/ -- Keith Busse, former vice president of Nucor Corporation and general manager of its thin-slab cast steel mill in Crawfordsville, Ind., confirmed today that he has resigned his position
at Nucor, effective Aug. 27, 1993, to found a new mini-mill venture. Busse, 50, and two other former Nucor employees,


Mark D. Millett, 34, and Richard P. Teets Jr., 38, intend for their new company, which will be called Steel Dynamics, Inc., to pursue and further perfect thin-slab casting technology for the flat-rolled products marketplace. Busse, who has a Master's degree in business from Indiana University, will head the new enterprise as president and chief executive officer. Millett, a metallurgist by trade, will head its melt shop operations as vice president of melting and casting. Teets, who holds a Master's degree in mechanical engineering, will assume the duties of vice president of rolling and finishing.
 All three gentlemen were instrumental in the construction of Nucor's Crawfordsville mill and are among those, in addition to Nucor's Kenneth Iverson, described in the 1990 book "American Steel," by Richard Preston, which chronicles the building of the world's first thin-slab cast mini-mill. Busse has been with Nucor for 21 years and Millett for 11 years. Teets has been with Nucor for six years, having come there from LTV Steel where he was the manager of production for the LTV/Sumitomo joint venture in electro-galvanizing.
 "We are very enthusiastic about our new venture," said Busse, "and I think that, as a team we combine all of the talent, creativity, experience, and drive necessary to make this thing work." Busse noted that all three men are giving up job security and considerable earnings potential at Nucor, which is an excellent company, because of their confidence in the future of thin-slab casting technology and their desire to start and operate their own company. Busse further noted that he and the others were confident that this technology was capable of furnishing high grade goods for the automotive and appliance markets.
 "We are likewise confident that the development capital and necessary financing is out there and we intend to aggressively pursue that vital component in the immediate future," said Busse.
 Steel Dynamics intends to seek a suitable site in the Midwest (Ohio, Michigan, Illinois, Indiana and Kentucky) for this project while financing is being arranged. The company noted that it already has sufficient support to enable it to proceed forward and will be assembling its development team in the weeks and months ahead.
 -0- 9/7/93
 /CONTACT: Keith Busse of Steel Dynamics, Inc., 317-464-8046 or 317-846-8574/


CO: Steel Dynamics, Inc. ST: Indiana IN: MNG SU: PER

AR -- CL006 -- 9301 09/07/93 11:25 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 7, 1993
Words:450
Previous Article:LOWE'S ANNOUNCES WEEKLY SALES
Next Article:SPRINT, OPTINET ANNOUNCE DATA NETWORK INTERCONNECTION; OPTINET TO PROVIDE FRAME RELAY, PACKET-SWITCHED DATA SERVICES TO USERS IN CANADA
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters