Steel Dynamics Wraps Up Buyout of Remaining Equity in New Process Steel

New Process Steel operates six manufacturing facilities—four in the United States and two in Mexico, including locations within Steel Dynamics’ Butler, Indiana and Columbus, Mississippi divisions.

SEATTLE (Scrap Monster): Steel Dynamics, Inc. announced today that it has completed the acquisition of the remaining 55% equity interest in New Process Steel, L.P., a major North American metals solutions and supply-chain management company headquartered in Houston, Texas. The move strengthens Steel Dynamics’ presence in value-added steel manufacturing and distribution markets.

Mark D. Millett, Chairman and CEO of Steel Dynamics, said the acquisition enhances the company’s ability to pursue value-added manufacturing growth while continuing to support long-standing flat-rolled steel customers. Millett praised New Process Steel’s strong reputation for quality and customer relationships, welcoming its team into the Steel Dynamics family.

New Process Steel operates six manufacturing facilities—four in the United States and two in Mexico, including locations within Steel Dynamics’ Butler, Indiana and Columbus, Mississippi divisions. The company, acquired in 1952 by Gene Fant and later expanded by current CEO Richard Fant, has grown significantly under his more than 25-year leadership, modernizing operations and diversifying product capabilities.

Employing approximately 1,275 people, New Process is Steel Dynamics’ largest flat roll steel customer, positioning the acquisition as a strategic move to strengthen supply-chain efficiencies and industry competitiveness.

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