Steel Dynamics Inc.
Latest News
Steel Dynamics Realigns Organization
06 August 2008 - Steel Dynamics realigns its executive management structure, with each of the company's three current executive vice presidents assuming new responsibilities for various segments of the company, supported by additional corporate management appointments.
Steel Dynamics Increases Share Repurchase Program
30 July 2008 - The Steel Dynamics Board approves an increase of 5 million shares to the company’s existing share repurchase program, giving Steel Dynamics the authority to repurchase up to an additional 8.9 million shares.
Acquisitions Boost Steel Dynamics Sales, Earnings
23 July 2008 - Boosted by its recent acquisitions (The Techs, OmniSource, and Recycle South), Steel Dynamics reports net income of $210 million on net sales of $2.4 billion for the second quarter, and net income of $353 million on net sales of $4.3 billion for the first half of 2008.
Steel Dynamics Subsidiary Completes Acquisition of Recycle South
17 June 2008 - Steel Dynamics subsidiary OmniSource Corp. has completed its acquisition of the remaining 75% equity interest in Spartanburg, S.C., based Recycle South, LLC.
Steel Dynamics Raises 2nd Quarter Earnings Guidance
13 June 2008 - Stronger-than-anticipated volumes and pricing prompt Steel Dynamics to raise its 2nd quarter earnings expectations into the range of $0.90 to $0.95 per diluted share.
Steel Dynamics Subsidiary to Acquire Recycle South
09 May 2008 - Steel Dynamics’ wholly owned subsidiary OmniSource executes a definitive agreement to acquire the remaining equity interests in Recycle South.
Steel Dynamics Reports Record 1st Quarter Sales and Earnings
22 April 2008 - Steel Dynamics announces net income of $143 million on net sales of $1.9 billion for the first quarter of 2008.
SMS Demag to Upgrade Steel Dynamics Bloom Caster
07 April 2008 - Steel Dynamics contracts SMS Demag to upgrade the bloom caster at the Pittsboro, Ind., facility for the production of larger section sizes.
Steel Dynamics Completes Notes Offering
04 April 2008 - Steel Dynamics completes its unsecured note offering of $375 million of 7-3/4% Senior Notes due 2016.
Steel Dynamics to Offer $300 Million in Notes
28 March 2008 - Steel Dynamics announces plans to sell approximately $300 million in aggregate principal amount of debt securities in a transaction that would be exempt from the Securities Act of 1933, but would be subject to market and other conditions.
Steel Dynamics Raises First Quarter Earnings Guidance
12 March 2008 - Steel Dynamics raises its first-quarter earnings guidance, primarily driven by higher-than-anticipated flat-rolled steel pricing and improved scrap processing results.
Steel Dynamics Announces Two-for-One Stock Split
05 March 2008 - The Steel Dynamics board of directors approves a two-for-one split of the company's common stock as well as a 33% increase in the company's quarterly cash dividend.
Steel Dynamics Reports Strong Results for 2007
29 January 2008 - Steel Dynamics announces net income of $98 million on net sales of $1.5 billion for the fourth quarter, and net income of $395 million on record net sales of $4.4 billion for the full year of 2007.
Timken Provides Rolling Mill Training for Steel Dynamics and other Producers
20 December 2007 - The need to train new millwrights to replace retiring veterans is accelerating demand for Timken’s Rolling Mill Industry Training classes, with demand for the training class nearly doubling in 2007 alone.
Steel Dynamics Updates Earnings Guidance
20 December 2007 - Excluding the effect of its late-October acquisition of OmniSource, Steel Dynamics expects fourth quarter earnings to be in line with the guidance that was issued in October.
Siemens to Upgrade Bar Mills in the U.S. and Mexico
05 December 2007 - Siemens Metals Technologies will upgrade bar mills at Steel Dynamics’ Pittsboro, Ind., facility and at Talleres y Aceros SA de CV in Ixtaczoquitlán, Mexico.
Steel Dynamics Completes Purchase of Minnesota Iron Mine
04 December 2007 - Steel Dynamics completes its purchase of a shuttered Hoyt Lakes, Minn., taconite mine from Cleveland Cliffs where it will invest $165 million so it can mine and concentrate iron ore for its Mesabi Nugget venture with Kobe Steel.
EPA, Steel Dynamics Reach Agreement on Clean-Air Violations
02 November 2007 - U.S. EPA Region 5 reaches an agreement with Steel Dynamics on alleged clean-air violations at the company's Butler facility.
Steel Dynamics Completes OmniSource Acquisition
29 October 2007 - Steel Dynamics completes its acquisition of OmniSource for approximately $1.1 billion, including $425 million in cash, 9.7 million shares of SDI common stock, and the assumption of approximately $220 million of debt, which was repaid on closing.
Siemens to Supply 4-Strand Billet/Bloom Caster for Steel Dynamics
18 October 2007 - Steel Dynamics contracts Siemens to engineer and manufacture a new 4-strand billet/bloom casting machine for its Structural and Rail Division in Columbia City, Ind.
