Steel Dynamics to acquire a 55% stake in New Process Steel.

Steel Dynamics, an American steel producer, agreed to acquire a 55% 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 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," Mark D. Millett, Steel Dynamics Chairman and CEO.