Indiana-based Steel Dynamics (SDI) has completed the acquisition of Kentucky Electric Steel for $5 million according to a recent press release. The entity has an annual capacity of 250,000 tons.
The company noted that as part of the transaction, SDI plans to reopen the Kentucky-based rolling mill as part of the company’s Steel of West Virginia (SWV) operations in November 2018. The acquisition will provide the SWV unit with local flats and specialty alloy bars production.
Glenn Pushis, senior vice president of SDI's Long Products Steel Group, anticipates that the Kentucky unit will consume 100,000 to 150,000 tons of billets.