Steel Dynamics Acquires Remaining 55% of New Process Steel.

Steel Dynamics has agreed to acquire the remaining 55% equity interest in New Process Steel, a metals solutions and distribution supply-chain management company based in Houston, Texas. The acquisition expands Steel Dynamics' exposure to value-added manufacturing opportunities, while continuing to serve its other long-standing customers.

Steel Dynamics, Inc. (NASDAQ/GS: STLD) has announced a definitive agreement to acquire the remaining 55% equity interest in New Process Steel, L.P. (New Process), a metals solutions and distribution supply-chain management company based in Houston, Texas. The acquisition, which is subject to customary closing conditions and regulatory approvals, aims to expand Steel Dynamics' exposure to value-added manufacturing opportunities while continuing to serve its other long-standing customers.

Mark D. Millett, Chairman and Chief Executive Officer of Steel Dynamics, stated, "We have enjoyed a strong customer relationship with New Process since our founding. 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."

Richard Fant, New Process Steel Chief Executive Officer, expressed enthusiasm about the strategic move, stating, "I have enjoyed a great, long-time relationship with the entire Steel Dynamics team. 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."

New Process is a prominent North American metal products manufacturer and supply-chain solutions provider, headquartered in Houston, Texas. It has two manufacturing locations in Mexico and four in the United States, including two facilities at Steel Dynamics' Butler and Columbus Flat Roll Steel divisions. The company was founded in 1952 by Gene Fant, the father of its current CEO, Richard Fant, who has significantly grown, modernized, and diversified New Process during his over 25-year tenure as CEO. New Process employs approximately 1,275 individuals and is currently Steel Dynamics' single largest flat roll steel customer.

Steel Dynamics operates using a circular manufacturing model, producing lower-carbon-emission, quality products with recycled scrap as the primary input. The company is one of the largest domestic steel producers and metal recyclers in North America, combined with a meaningful downstream steel fabrication platform. Steel Dynamics is also investing in aluminum operations to further diversify its product offerings, with plans to supply aluminum flat rolled products with high recycled content to the countercyclical sustainable beverage can industry, in addition to the automotive and industrial sectors.

The acquisition of New Process aligns with Steel Dynamics' strategy to expand its value-added manufacturing capabilities and enhance its market position in the metals industry. As the transaction is subject to regulatory approvals, further details on the closing date and conditions are expected to be announced in the future.

References:
[1] https://www.morningstar.com/news/pr-newswire/20250819de54499/steel-dynamics-to-acquire-remaining-55-ownership-interest-in-new-process-steel
[2] https://www.prnewswire.com/news-releases/steel-dynamics-to-acquire-remaining-55-ownership-interest-in-new-process-steel-302533387.html