Type Public company Founded 1993 Subsidiaries OMNISOURCE CORP | Industry Metals Products Steel | |
 | ||
Traded as NASDAQ: STLD
S&P 400 Component Key people Mark Millett (President & CEO)
Keith Busse (Chairman of the Board) Stock price STLD (NASDAQ) US$ 33.89 -0.62 (-1.80%)24 Mar, 4:00 PM GMT-4 - Disclaimer CEO Mark D. Millett (1 Jan 2012–) Headquarters Fort Wayne, Indiana, United States Founders Mark D. Millett, Keith E. Busse, Richard P Teets Jr | ||
Steel dynamics butler full circle
Steel Dynamics, Inc., sometimes abbreviated as "SDI", is a steel producer based in Fort Wayne, Indiana.
Contents
Steel dynamics furnace
Current operations
With a production capacity of 11 million tons, Steel Dynamics is the 4th largest producer of carbon steel products in the United States. SDI is among the most profitable American steel companies in terms of profit margins and operating profit per ton.
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.
In 2007, Steel Dynamics acquired The Techs, three hot-dip galvanizing plants in Pittsburgh that coat flat-rolled steel, and OmniSource Corporation.
In 2014, Steel Dynamics acquired Severstal Columbus for $1.625 billion. The acquisition increased the company's production capacity to 11 million tons.
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 Electric Steel Corporation, which was acquired by Steel Dynamics in 2006.
Price-fixing allegations
Along with other steel producers, the company was a defendant in a price-fixing lawsuit. The case was settled and Steel Dynamics agreed to pay $4.6 million.