FORT WAYNE, INDIANA, September 11, 2002—Steel Dynamics, Inc. (NASDAQ: STLD)
announced today that it has elected to defer its planned equity
offering to a later date when conditions in both the general equity
markets and the market for steel equities are less volatile and may more
appropriately reflect valuations in line with company performance.
“We are fortunate to be in a position where we do not have to issue
equity at valuations that the company’s board of directors believe are
substantially lower than the fair value for our company,” said Keith E.
Busse, President and Chief Executive Officer, “We have decided to step
back and await a more favorable climate. We are doing very well, and
there is no pressing reason for us to sell equity at this time.”
Steel Dynamics manufactures a variety of hot- and cold-rolled steel
products at its Butler, Indiana, flat-roll mini-mill and has recently
begun initial beam production at its new Columbia City, Indiana,
structural steel and rail facility.
For more information about Steel Dynamics, Inc., please visit www.steeldynamics.com.
Forward Looking Statements:
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