Steel Dynamics

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Steel Dynamics Incorporated
Public
Traded as NASDAQSTLD
Industry Metals
Founded 1993
Headquarters Fort Wayne, Indiana, United States
Key people

President & CEO Mark Millett

Chairman of the Board Keith Busse
Products Steel
Revenue DecreaseUS$7.594 billion (2015)
DecreaseUS$398 million (2015)
DecreaseUS$178 million (2015)
Total assets DecreaseUS$6.202 billion (2015)
Total equity DecreaseUS$2.545 billion (2015)
Number of employees
6,300
Website www.steeldynamics.com

Steel Dynamics, Inc. (SDI) is a steel producer based in Fort Wayne, Indiana and the fifth largest producer of carbon steel products in United States. SDI is among the most profitable American steel companies in terms of profit margins and operating profit per ton. 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.[1]

History[edit]

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.[2]

In 2007 Steel Dynamics acquired The Techs, three hot-dip galvanizing plants in Pittsburgh that coat flat-rolled steel,[3] and OmniSource Corporation.[4]

In 2014, Steel Dynamics acquired Severstal Columbus for $1.625 billion. The acquistion increased the company's production capacity to 11 million tons.[5]

In Popular Culture[edit]

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 plant, which was acquired by Steel Dynamics in 2006.

Notes[edit]

External links[edit]