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Steel Dynamics completes Roanoke Electric Steel acquisition

Today Steel Dynamics, Inc. announced that it has completed its previously announced acquisition of Roanoke Electric Steel Corp. The transaction closed on April 11, 2006, immediately following approval of the transaction by Roanoke stockholders.

The combined companies now will operate five electric-furnace mini mills with annual production capacity of approximately 5 million tons of steel products include flat-rolled, merchant bar, engineered bar, and light structural steels, as well as wide-flange beams and rail. In addition, the company now will operate five facilities that fabricate steel joists and decking used in non-residential construction and two scrap-metal processing facilities. Steel Dynamics now operates facilities in Indiana, Virginia, West Virginia, South Carolina, Florida, Ohio, and Tennessee.

Keith Busse, president and CEO welcomed Roanoke's employees to Steel Dynamics and said that the company expects to make capital improvements in the Roanoke steel-producing facilities.