April 4, 2007 — Steel Dynamics, Inc. has reached an agreement to purchase two privately owned metals recycling facilities in eastern Tennessee.

Together, the two scrap yards—Elizabethton Iron & Metal in Elizabethton, Tenn., and Johnson City Iron & Metal, in Johnson City, Tenn.—typically process in excess of 225,000 tons of ferrous scrap per year.

Steel Dynamics says the new yards will likely supply a portion of the ferrous scrap requirements to the company’s Roanoke Bar Division in Roanoke, Va., in addition to continuing to sell ferrous and non-ferrous materials on the open market.

The Tennessee yards will augment steel scrap that is supplied to the Roanoke mill by company-owned Shredded Products, LLC, which operates facilities in Montvale and Rocky Mount, Va. After the closing of the Tennessee acquisitions, the four company-owned yards are expected to be able to supply more than half of the ferrous scrap consumed by the Roanoke Bar Division.