Steel Dynamics
 | |
| Public company | |
| Traded as | NASDAQ: STLD |
| Industry | Metals |
| Founded | 1993 |
| Headquarters | Fort Wayne, Indiana, United States |
Key people |
President & CEO Mark Millett Chairman of the Board Keith Busse [1] |
| Products | Steel |
Production output | 7.7 million tons of steel (2015)[1] |
| Revenue |
 US$7.594 billion (2015) [1] |
|
-US$73 million (2015) [1] | |
|
-US$130 million (2015) [1] | |
| Total assets |
US$6.202 billion (2015) [1] |
| Total equity |
US$2.545 billion (2015) [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
Steel Dynamics is the 4th largest producer of carbon steel products in the United States. 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. 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 Popular Culture
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.
Controversies
Price-fixing allegations
The company is a defendant in a price-fixing lawsuit.[7]
Notes
- 1 2 3 4 5 6 7 8 Steel Dynamics Inc. 2015 Form 10-K Annual Report
- ↑ Supplemental Financial Information
- ↑ History of Steel Dynamics
- ↑ "Steel Dynamics Agrees to Acquire The Techs". Steel Dynamics. June 13, 2007.
- ↑ "Steel Dynamics to Acquire OmniSource Corporation". Steel Dynamics. October 1, 2007.
- ↑ "Steel Dynamics Completes Acquisition of Severstal Columbus". Steel Dynamics. September 16, 2014.
- ↑ "Three Steel Companies Hold their Ground in Price-Fixing Lawsuit". US Glass News Network. November 30, 2015.