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Metal Recycling News July 20, 2022 05:25:23 PM

SDI to Invest in Recycled Aluminum Flat Rolled Mill

Paul Ploumis
ScrapMonster Author
The state-of-the-art aluminum flat rolled mill will serve as a complementary extension of the company’s metals recycling platform and will consume significant volumes of aluminum scrap.

SDI to Invest in Recycled Aluminum Flat Rolled Mill

SEATTLE (Scrap Monster): Steel Dynamics, Inc. (SDI) announced that its Board of Directors have approved the proposal to construct and operate a low-carbon, recycled aluminum flat rolled mill, with two supporting satellite recycled aluminum slab center. The flat rolled mill will have a capacity of 650,000-tonne per annum. The total capital investment for all the three facilities is estimated at around $2.2 billion. The commercial production is slated to begin in the initial quarter of 2025.

The state-of-the-art aluminum flat rolled mill will serve as a complementary extension of the company’s metals recycling platform and will consume significant volumes of aluminum scrap. The project is estimated to generate between $650 million and $700 million of annual EBITDA. The project will be funded with available cash and cash flow from operations, said the company press release.

The aluminum flat rolled mill will be located in the Southeastern U.S. SDI will own over 94 percent of the facility through a joint venture arrangement with Unity Aluminum, Inc. Also, one of the two supporting satellite recycled aluminum slab centers will be located in the U.S., while the other will be in Mexico.

Mark. D. Millett, Chairman, President, and Chief Executive Officer, SDI noted that the investment is aligned with the company’s existing business and operational expertise.

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