Steel Dynamics, Inc. has entered into a definitive agreement to acquire Pennsylvania-based The Techs, paying $360 million for the company on a cash-free debt-free basis. The Techs, a flat-rolled-steel galvanizing company, operates three hot-dip galvanizing facilities in the Pittsburgh, Pa., area: GalvTech, MetalTech and NexTech, each specializing in the galvanizing of specific types of flat-rolled steels. The acquisition is expected to close on or about July 2, 2007.
The Techs’ three facilities, constructed in 1984, 1990 and 1996, have a combined annual galvanizing capacity of approximately 1 million tons. The privately held company shipped 958,000 tons of galvanized steel in 2006, generating revenues of $811 million.
Steel Dynamics to Acquire The Techs
June 14, 2007