Steel Dynamics, Inc. (SDI) is the nation’s fifth largest producer of carbon steel products with 2006 annual revenues of $3.2 billion and annual shipments of 4.7 million tons. SDI operates five electric-furnace mini-mills and employs about 3,500. In 2006 about 50 percent of the company's shipments were flat-rolled steel and the remainder was "long products" (bars and beams) and fabricated products. SDI is among the most profitable American steel companies in terms of profit margins and operating profit per ton.
On October 1, 2007, Steel Dynamics announced that it would acquire OmniSource Corporation, one of the country's largest ferrous scrap processors. OmniSource, also based in Fort Wayne, Indiana, operates scrap processing facilities in 42 locations in the eastern U.S. and Canada. Omnisource will operate as a wholly owned subsidiary of Steel Dynamics. Omnisource is one of SDI's major scrap suppliers for its Indiana mills. After the acquisition, SDI's shipments of steel products and ferrous and non-ferrous resources will approach 50-50, with steel somewhat more than half.
In 2006, Steel Dynamics completed the acquisition of Roanoke Electric Steel Corporation, adding merchant bar steel to its product mix. With the acquisition, the company now operates five electric-furnace mini-mills with total steel production capacity expected to reach 6.7 million tons per year by 2009. In addition to merchant bars, SDI produces engineered bar products, wide-flange beams, rails, and flat-rolled steels. It also operates a fabrication business, New Millennium Building Systems, which produces joists, girders, and decking for non-residential construction projects.
Founded in 1993, SDI began production at its Butler, Indiana, Flat Roll Mill in 1996. This state-of-the-art mill remains a world leader in its productivity and in mini-mill production of flat-rolled steels. The Flat Roll Division’s finishing facilities at Butler and at Jeffersonville, Indiana, produce pickled, cold-rolled, galvanized, and painted flat-roll steel.
Steel Dynamics’ rapid growth has resulted from discovering and taking advantage of business opportunities in our areas of technical expertise, through building new production facilities and acquiring others. We attract creative and committed people who are given the challenge and the freedom to implement our business plans, and we reward them well for their successful efforts.