Steel Mills
SDI Completes Purchase of CSN Heartland
Written by Sandy Williams
July 5, 2018
Steel Dynamics has completed the acquisition of CSN Heartland Flat Roll operations in Terre Haute, Ind., for $400 million in cash. Heartland produces higher-margin flat rolled steel through the processing of hot rolled coils into pickled and oiled, cold rolled and galvanized products.
Heartland has an annual capacity of 1.0 million tons of cold rolled steel and a galvanizing capacity of 360,000 tons. The facility is comprised of a continuous pickling line, a cold mill and a galvanizing line. Heartland has been operating at low utilization, primarily focusing on galvanized products. SDI plans to bring the facility to full capacity, producing high-quality cold rolled and pickled and oiled, in addition to galvanized products.
The acquisition will expand Steel Dynamics’ annual flat rolled steel shipping capacity to 8.4 million tons and total steel shipping capability to 12.4 million tons.
“We enthusiastically welcome the employees and existing customers of Heartland into the Steel Dynamics family,” stated SDI President and CEO Mark D. Millett. “The successful completion of the Heartland acquisition represents another step toward one of our growth initiatives, to further increase value-added product and market diversification. We believe Heartland, together with our Midwest flat roll operations, will provide numerous synergies and a tremendous amount of operating flexibility and optionality. We look forward to bringing this strategy to fruition.”
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Ternium pushes forward with growth projects despite slump in earnings and Mexican market
Ternium S.A. Fourth quarter ended Dec.31 2024 2023 Change Net sales $3,876 $4,931 -21.4% Net income (loss) $333 $554 -39.9% Per diluted share $1.43 $2.11 -32.2% Full year ended Dec.31 Net sales $17,649 $17,610 0.2% Net income (loss) $174 $986 -82.4% Per diluted share $(0.27) $3.44 -108% (in millions of dollars except per share) While […]
Kestenbaum, Ancora state their case in proxy fight for U.S. Steel
Ancora Holdings is moving forward with its proxy fight to oust U.S. Steel’s leadership and install a new board of directors and Alan Kestenbaum as CEO.
BlueScope shelves midstream facility but still upbeat on US
BlueScope Steel is pulling back on its expansion plans in the US for now but remains optimistic about the North American market.
Japanese PM cites ‘unjust political interference’ in Nippon/USS deal: Report
Japan’s Prime Minister Shigeru Ishiba said on Monday that former President Joe Biden’s decision to block Nippon Steel’s buy of U.S. Steel was “unjust political interference,” according to a report in Reuters. This comes after another Reuters report on Friday saying that President Trump would not object to Nippon taking a minority stake in the […]
Trump says Nippon will ‘invest heavily’ in USS rather than buy it
Nippon Steel has agreed to “invest heavily in U.S. Steel as opposed to own it,” President Donald Trump said on Friday during a press conference with Japanese Prime Minister Shigeru Ishiba. U.S. Steel is “a very important company” and was once “the greatest company in the world”. Of potential foreign ownership of the Pittsburgh-based steelmaker, Trump said, “the concept, psychologically, not good."