Steel Dynamics, Inc. STLD has agreed to acquire the remaining 55% equity interest in New Process Steel, L.P. It has entered into a definitive agreement with New Process Steel for the transaction, which is subject to customary closing conditions and receipt of regulatory approvals.
New Process Steel is a prominent metal and supply-chain solutions company, headquartered in Houston, TX, with an employee base of approximately 1,275 individuals. It has a long-standing relationship as a significant customer of Steel Dynamics and is currently the latter’s single largest flat roll steel customer. New Process Steel’s high-quality standards, along with a strong customer base, will benefit Steel Dynamics gain more exposure in value-added manufacturing solutions, while also focusing on its legacy flat rolled steel solutions.
