Steel Dynamics to acquire a 45% stake in New Process Steel.

Steel Dynamics, an American steel producer, agreed to acquire a 45% stake in New Process Steel, a manufacturer of carbon steel. Financial terms were not disclosed. "We have enjoyed a strong customer relationship with New Process since our founding. This minority equity interest enables us to grow our exposure to value-added manufacturing opportunities, while continuing to serve our other long-standing flat roll steel customer needs. New Process Steel has a reputation for high-quality standards and strong customer relationships. With Richard Fant and the current New Process leadership team at the helm, we believe there will be numerous opportunities for value-added manufacturing growth. Steel Dynamics' focus remains on providing the highest quality steel and service to all of our customers, while creating innovative supply-chain solutions," Mark D. Millett, Steel Dynamics Chairman and CEO.