Steel Dynamics, Inc. has entered into an agreement to require the remaining 55 percent equity interest in New Process Steel, L.P. New Process Steel is a metals solutions and distribution supply-chain management company headquartered in Houston, Texas, with a focus toward growing its value-added manufacturing applications.
“We have enjoyed a strong customer relationship with New Process since our founding,” said Mark D. Millett, Chairman and CEO of Steel Dynamics. “This acquisition expands our exposure to value-added manufacturing opportunities, while continuing to serve our other long-standing flat rolled steel customer needs. New Process has a reputation for high-quality standards and strong customer relationships. With this next step, we believe New Process will continue to have a number of opportunities for value-added manufacturing growth.”
“I have enjoyed a great, long-time relationship with the entire Steel Dynamics team,” said Richard Fant, the New Process Steel CEO. “I believe this is a great opportunity for New Process to grow our value-added metals solutions and supply-chain strategy, to continue to provide our customers with exceptional service and value. The entire New Process team and I are excited for this strategic step.”