Steel Dynamics Acquires Kentucky Electric Steel Assets
Steel Dynamics Inc. completed the acquisition of substantially all of the assets of Kentucky Electric Steel (KES), a wholly owned subsidiary of Specialty Steel Works Inc., for $5 million. The acquired assets are located outside of Ashland, Ky., and are comprised of a rolling mill with an annual capacity of 250,000 tons. Steel Dynamics plans to reopen the rolling mill, which was closed earlier this year by the prior owner, in November 2018.
The facility will be operated as part of Steel Dynamics’ Steel of West Virginia (SWVA) operations, which is located within 20 miles of Ashland. The acquisition will provide product diversification for SWVA through the addition of flats and specialty alloy bars.