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Fort Wayne, Indiana Steel Dynamics, has announced a definitive agreement to acquire the remaining 55% ownership stake in New Process Steel, L.P., completing its full ownership of the metals solutions and distribution company.
Headquartered in Houston, Texas, New Process Steel operates six manufacturing facilities, four in the U.S. and two in Mexico. The company employs about 1,275 people and is Steel Dynamics’ largest flat-rolled steel customer, with strong partnerships across automotive, construction, and industrial sectors.
Steel Dynamics CEO Mark D. Millett said the acquisition enhances the company’s exposure to value-added steel manufacturing and strengthens customer relationships. New Process Steel CEO Richard Fant welcomed the deal, noting it would expand growth opportunities and further integrate supply chain operations.
The transaction, subject to customary closing conditions and regulatory approvals, underscores Steel Dynamics’ strategy to expand downstream operations and secure long-term market strength.
With this move, Steel Dynamics solidifies its position as a leading steel producer while broadening its presence in advanced steel processing and distribution.
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