BUTLER, INDIANA — August 25, 1997 — Steel Dynamics, Inc.
(NASDAQ symbol: STLD) today announced that its Board of Directors
reviewed the Company’s structural mill engineering and marketing studies
and authorized the Company to proceed with its plans to build a
mini-mill in the upper Midwest.
The location of the greenfield plant is expected to be in either
Illinois, Indiana, Michigan or Ohio. The expected product offering will
include a broad range of structural products dedicated to the
construction market. This facility is anticipated to have an annual
capacity of 750,000 tons, cost approximately $250 million and employ as
many as 300 people. SDI would expect to utilize construction and
operating management philosophies similar to that employed in its
thin-slab cast flat rolled mini-mill that has delivered low-cost,
high-quality products to the marketplace. The company expects such a
project would act as a magnet for other associated investments.
Keith E. Busse, President and CEO of SDI said the Company is expected
to begin procurement of equipment before the end of the year and
commence construction in the second quarter of 1998.
Steel Dynamics, Inc. is now providing a broad range of flat-rolled
products to the market, including light gauge micro-alloyed and high
strength steels for demanding automotive applications. |