Steel Dynamics' Co-Founder Recognized for Steel Industry Contributions
05/26/2017 - Steel Dynamics Inc. (SDI) co-founder Richard P. Teets has received the Steel Manufacturers Association’s Iverson-Selig Award in recognition of his decades of service and contributions to the electric arc furnace industry.
"Dick’s contributions to the success of SDI and his impact on the entire steel industry cannot be overstated," association president Philip K. Bell said in a statement. “Throughout his long and pioneering career, Dick has contributed in countless ways to advance the causes and culture that are at the heart of American steelmaking."
Teets, who retired as Steel Dynamics’ chief operating officer in 2016, was presented the award 23 May during a joint meeting of the association and the American Iron and Steel Institute.
The award is named after Nucor Corp. founder Ken Iverson and Marvin Selig, founder of CMC Steel. Both are considered pioneers of the modern “mini-mill” industry in the United States.
A mechanical engineer, Teets, along with current chief executive Mark Millett and board chairman Keith Busse, left Nucor to form Steel Dynamics in 1993. Together, they built the company into one of America’s leading steel producers.
Teets, who retired as Steel Dynamics’ chief operating officer in 2016, was presented the award 23 May during a joint meeting of the association and the American Iron and Steel Institute.
The award is named after Nucor Corp. founder Ken Iverson and Marvin Selig, founder of CMC Steel. Both are considered pioneers of the modern “mini-mill” industry in the United States.
A mechanical engineer, Teets, along with current chief executive Mark Millett and board chairman Keith Busse, left Nucor to form Steel Dynamics in 1993. Together, they built the company into one of America’s leading steel producers.
