FORT WAYNE, INDIANA, May 17, 2002 — The Board of Directors of Steel Dynamics, Inc. (NASDAQ: STLD)
has approved, subject to final review and permitting, the construction
of a coil coating facility with a capacity of 240,000 tons. The new
coating facility will be located at the existing flat roll mill in
Butler, Indiana. Capital costs for the project are estimated at $25 to
$30 million and the facility will employ approximately 40 people. “We
are excited about the opportunity to vertically integrate into painted
products that will allow further market diversification at Butler,”
said Mark Millett, vice president and general manager.
The new facility will incorporate state-of-the-art coating technology
and environmental controls. It is anticipated that the facility will be
able to coat pickled hot band, hot and cold rolled galvanized and cold
rolled products that are currently produced at the Butler mill. The
facility will be able to coat strip coils with a thickness of .010” to
.070” and widths from 36” to 64”.
Steel Dynamics, Inc. is one of the most profitable steel producers in
the United States in terms of operating profit per ton. The Company
owns and operates a state-of-the-art, low-cost flat-rolled mini-mill
located in Butler, Indiana. For more information about Steel Dynamics,
Inc., please visit www.steeldynamics.com.
Forward Looking Statements
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