Steel Dynamics, Inc. has finalized the purchase of the remaining 55 % equity interest in New Process Steel, L.P., a Houston‑based metals solutions and distribution company, bringing the two U.S. manufacturing sites in Butler, Indiana, and Columbus, Mississippi, under its umbrella.
The deal follows Steel Dynamics’ earlier 45 % minority stake acquisition in 2022, making this the final step to full ownership. New Process Steel’s customer base includes a large flat‑rolled steel customer that has been a key partner for Steel Dynamics, and the company’s two U.S. plants will now operate as fully integrated facilities within Steel Dynamics’ existing steel, fabrication, and recycling platforms.
Strategically, the acquisition deepens Steel Dynamics’ value‑added manufacturing footprint and strengthens its position in the domestic flat‑rolled steel market. By fully integrating New Process Steel’s distribution network and customer relationships, the company can cross‑sell its recycling and fabrication services, capture higher‑margin opportunities, and benefit from tariff‑protected domestic production. The move also aligns with industry trends toward downstream integration and consolidation of service centers to capture more value along the supply chain.
In the context of Steel Dynamics’ recent performance, the company reported Q4 2024 net sales of $3.9 billion and net income of $207 million, a decline from the $424 million net income reported in Q4 2023. The acquisition is positioned to offset the earnings dip by expanding the company’s high‑margin value‑added segment and providing a platform for future growth in a market that remains sensitive to pricing and tariff dynamics.
Mark D. Millett, Chairman and CEO, said the transaction “expands our exposure to value‑added manufacturing opportunities while continuing to serve our flat‑rolled steel customer base.” He added that New Process Steel’s reputation for high‑quality standards and strong customer relationships will help drive further growth in the company’s downstream operations.
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