SDI makes alternative iron plans.Skyrocketing scrap prices have helped prompt Steel Dynamics Inc. (SDI (1) (Serial Digital Interface) A physical interface widely used for transmitting digital video in various formats. For electrical transmission, it uses a high grade of coaxial cable and a single BNC connector with Teflon insulation. ), Fort Wayne Fort Wayne, city (1990 pop. 173,072), seat of Allen co., NE Ind., where the St. Joseph and St. Marys rivers join to form the Maumee River; inc. 1840. It is the second largest city in the state, a major railroad and shipping point, a wholesale and distribution hub, , Ind., to move ahead with plans to build an alternative iron production facility. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a report in the Fort Wayne (Indiana) Journal Gazette, SDI and a group of partners may invest up to $100 million in a Butler, Ind., plant that will produce pellet-sized iron nuggets Nuggets can refer to several branches of interest:
SDI will reportedly join with iron ore firm Cleveland Cliffs, Cleveland, and Kobe Steel of Japan, to build the Butler facility. The two companies have been developing and testing the substitute at a Silver Bay, Minn., pilot plant. The venture will not be SDI's first foray into alternative iron technologies. The company, which operates electric arc furnace An electric arc furnace (EAF) is a furnace that heats charged material by means of an electric arc. Arc furnaces range in size from small units of approximately one ton capacity (used in foundries for producing cast iron products) up to about 400 ton units used for secondary mills in Butler and Columbia City, Ind., also makes a pig iron substitute at its Iron Dynamics operation in Butler. SDI managers hope the new pellets will be less expensive to produce than what they are paying for the Iron Dynamics material. According to the Journal Gazette report, Steel Dynamics will have an estimated 50 percent ownership stake in the proposed Indiana plant and a roughly 20 percent stake in an expanded version of the Minnesota operation. The new technology sends iron fines and coal into a rotary hearth gas furnace where an oxygen reaction creates the iron nuggets. SDI CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Keith Busse has told the Journal Gazette that the nuggets would be about half as expensive as the March 2004 cost of pig iron ingots, which was approximately $350 per ton. |
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