Fort Wayne, Indiana-based Steel Dynamics, Inc. (SDI) and Barcelona, Spain-based LaFarga Group announced Friday the creation of a new partnership which will operate under the SDI LaFarga, LLC name.
Plans include the construction of a $39 million facility (with a potential site in Allen County, Indiana) which will produce copper wire rod from recycled copper. As an intended provider of a portion of the copper scrap to the new venture, Steel Dynamics benefits from a new alternative domestic market for its recycled copper. Historically, a large portion of Steel Dynamics copper scrap is exported to China.
The joint venture represents LaFarge's first expansion into the US.