Steel Dynamics Inc. completed the acquisition of a 45% minority equity interest in New Process Steel. Houston, Texas-based New Process Steel is a metals solutions and distribution supply-chain management company with a focus toward growing its value-added manufacturing applications. New Process Steel has two manufacturing locations in Mexico and four manufacturing locations in the United States, two of which are located at Steel Dynamics’ Butler and Columbus Flat Roll Steel divisions. The company employs approximately 950 workers and is currently Steel Dynamics largest flat-roll steel customer.
New Process Steel CEO Richard Fant will independently operate the company as the majority 55% equity holder. He will make all business decisions in the normal course of operations, including steel purchasing and customer supply decisions.