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Steel Dynamics to acquire a 45% minority interest in New Process Steel

October 15, 2021 - Steel Dynamics Inc., Fort Wayne, Indiana, announced that it has entered into a definitive agreement to acquire a minority equity interest in New Process Steel, L.P. New Process Steel is a metals solutions and distribution supply-chain management company headquartered in Houston with a focus toward growing its value-added manufacturing applications.

"We have enjoyed a strong customer relationship with New Process since our founding," stated Mark D. Millett, chairman and chief executive officer. "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."

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