SDI acquires Roanoke Electric Steel.
"This combination further diversifies SDI's product offering, provides additional penetration of the joist, truss and girder markets and provides SDI with its first foray into the processed raw materials arena," says Keith Busse, SDI's president and CEO. "The combination will enable us to broaden our geographic presence and strengthen our relationships with customers. We plan to invest $50 to $80 million to improve and upgrade Roanoke's facilities after the transaction closes."
Steel Dynamics operates three steel mini-mills that produce a wide range of steel products, including flat-rolled products, such as hot-rolled, cold-rolled and coated steels; wide-flange beams and H-piling; rail; and special-bar-quality round bars. SDI also produces joist and decking products for the non-residential construction market in two fabrication plants.
Roanoke Electric Steel Corp. has steel manufacturing facilities in Roanoke, Va., and Huntington, W. Va. Four of the company's subsidiaries are involved in various steel-related activities, consisting of scrap processing and bar joists and truck trailer beam fabrication.
The merger will increase SDI's total steelmaking capability to approximately 5.2 million tons, according to a release from the company.
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|Title Annotation:||SCRAP INDUSTRY NEWS|
|Date:||Jan 1, 2006|
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