Steel Dynamics Announces OmniSource Promotions
08/14/2008 - Steel Dynamics announces management promotions and organizational changes at OmniSource, its wholly-owned metals recycling subsidiary.
Steel Dynamics, Inc. announced a number of management promotions and organizational changes at OmniSource Corp., its wholly-owned metals recycling subsidiary. The announcements follow the recent appointment of Mark Millett, Steel Dynamics Executive Vice President for Metals Recycling and Ferrous Resources to the additional role of President and Chief Operating Officer of OmniSource Corp.
According to Steel Dynamics, the new assignments have been designed to bring additional industry depth and experience to OmniSource's management team and will help to further position the company for continued profitable growth in metals recycling. OmniSource, a significant provider of steel scrap to SDI's EAF-based minimills, also continues to be an important resource for other ferrous and nonferrous scrap metals consumers.
“We are delighted that OmniSource has such a talented workforce, with deep industry experience and management capabilities,” said Millet, in making the announcements. “These new appointments—all of which have come from within the company—will provide additional vision and leadership as we continue to build our OmniSource platform.
“In its first two full-quarters of operations as a part of Steel Dynamics, OmniSource exceeded our expectations in terms of the volume of scrap processed and sold as well as in its profitability, setting all-time OmniSource quarterly records,” noted Millet. “OmniSource now stands as the second-largest ferrous scrap processor in North America and is also one of the nation's top processors of nonferrous metals. Going forward, we expect to maintain OmniSource's growth in ferrous and nonferrous recycling to both complement and support SDI's continued growth in steelmaking. I am very pleased to have the opportunity to lead the OmniSource organization and look forward to its continued success."
SDI appointed three new OmniSource executive vice presidents, all reporting to Mark Millett. Tommy Tuschman, 63, becomes Executive Vice President for Strategic Sourcing and Business Development, and will continue in his role of sourcing of metals from major strategic accounts as well as pursuing other OmniSource growth opportunities. Tuschman has served as an executive with OmniSource since the merger of his scrap company into OmniSource in 1980.
Marvin Siegel, 70, will continue in his role as Executive Vice President, leading OmniSource Southeast. Previously, Marvin served as President of Recycle South, which became a part of OmniSource earlier this year. Spartanburg, S.C.-based OmniSource Southeast is a major metals recycler in the Southeastern U.S. and operates as a separate division of OmniSource.
Larry Adelman, 57, has been named OmniSource Executive Vice President–Nonferrous Group, with responsibility for strategic operations of the Nonferrous Group. He previously served as President of Admetco, a nonferrous scrap processor, from 1977 until it was acquired by OmniSource in 2004.
SDI also announced the appointment of OmniSource vice presidents that will manage various facets of OmniSource's Midwest-based ferrous and nonferrous metals businesses. Newly appointed ferrous managers, all of who will report to Mark Millett, include Rich Brady, 42, who was named OmniSource Vice President–Ferrous Sourcing and Marketing; Bob Brewer, 48, who was named OmniSource Vice President–Ferrous Operations; and Jason Redden, 50, who was named OmniSource Vice President–National Accounts and Foundry Sales.
In his new role, Brady will head the OmniSource marketing and trading group in addition to the mill group dedicated to the procurement of ferrous scrap for SDI's steel mills. He previously served as Steel Dynamics’ Vice President for Ferrous Resources; upon joining the company in 2004, established SDI's in-house scrap procurement department. A 17-year veteran of the metals industry, he has held numerous positions in scrap procurement, trading and management.
In his new role, Brewer will be responsible for six geographically-defined OmniSource scrap collection and processing divisions in the Midwest. He previously served as Southern Indiana Division Manager and has been employed 16 years at OmniSource in a variety of operating positions.
In his new role, Redden becomes responsible for procurement and management of scrap metal from large regional and national industrial accounts. He has held marketing positions at OmniSource since 1997, and previously held positions in the steel industry in purchasing, sales, and general management.
Newly appointed nonferrous managers, all of who will report to Larry Adelman, include Steve Alberico, 51, who was named OmniSource Vice President–Nonferrous Sourcing and Marketing; Jeff Rynearson, 46, who has been named Vice President–Nonferrous Operations; and Denny Luma, 53, President of Superior Aluminum Alloys, Inc., who also becomes a Vice President of OmniSource.
In his new role, Alberico will be responsible for daily nonferrous marketing and trading. He previously served as nickel and stainless commodity manager. A 28-year veteran of the metals industry, he has held numerous positions in scrap procurement, sales, and operations.
In his new role, Rynearson will be responsible for the company's six high-production nonferrous processing facilities in the Midwest. Rynearson is a 25-year employee of OmniSource.
Luma also serves as President of Superior Aluminum Alloys, Inc., a secondary-aluminum smelter based in New Haven, Ind., that is a wholly-owned subsidiary of OmniSource Corp. Prior to joining
OmniSource in 2001, Luma was President of Wabash Alloys.
"We are quite pleased with the progress we've made thus far to realize the anticipated synergies between OmniSource's ferrous scrap operations and our steel mills, with associated savings in transportation and inventory holding costs,” stated Millet. “We are also benefiting from logistics improvements that have resulted in a more predictable, continuous flow of ferrous scrap to our mills.
“As we continue to expand the scope of OmniSource's operations through additional acquisitions and investments in its scrap processing operations, we fully expect to maintain and improve on OmniSource's established relationships with consumers and providers of recycled metals, including other steel companies, foundries, and ferrous and nonferrous scrap suppliers,” continued Millet. “Our commitment to continuous improvement in OmniSource operations, like our similar commitment in steel operations, should benefit all of our customers.
"As a part of Steel Dynamics, OmniSource employees have begun to experience numerous benefits and opportunities, both personal and professional. I look forward to working together with the very competent workforce at OmniSource to build on the record of success and achievement that OmniSource has attained in the metals recycling industry during its 60 years in the business," Millett concluded.
