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Steel Dynamics to Fully Acquire New Process Steel
08/19/2025 - After acquiring a minority stake in its largest flat-rolled customer more than three years ago, Steel Dynamics Inc. is buying the remaining equity interest in the business, the steelmaker said on Tuesday.
SDI said Texas-based New Process Steel L.P., a metals solutions and distribution supply-chain management company, has agreed to sell the remaining 55% ownership stake. SDI acquired a 45% stake in the business in 2022.
“This acquisition expands our exposure to value-added manufacturing opportunities, while continuing to serve our other long-standing flat-rolled steel customer needs,” said Mark D. Millett, chairman and chief executive officer of Steel Dynamics.
Millett said the acquisition will provide New Process Steel with opportunities for value-added manufacturing growth. Currently, it has two manufacturing locations in Mexico and four in the U.S., two of which are located at Steel Dynamics’ Butler, Ind., and Columbus, Miss., flat-roll mills.
“I believe this is a great opportunity for New Process to grow our value-added metals solutions and supply-chain strategy, to continue to provide our customers with exceptional service and value. The entire New Process team and I are excited for this strategic step,” said Richard Fant, New Process Steel chief executive officer.
The transaction is subject to customary closing conditions and receipt of regulatory approvals, the company said.
“This acquisition expands our exposure to value-added manufacturing opportunities, while continuing to serve our other long-standing flat-rolled steel customer needs,” said Mark D. Millett, chairman and chief executive officer of Steel Dynamics.
Millett said the acquisition will provide New Process Steel with opportunities for value-added manufacturing growth. Currently, it has two manufacturing locations in Mexico and four in the U.S., two of which are located at Steel Dynamics’ Butler, Ind., and Columbus, Miss., flat-roll mills.
“I believe this is a great opportunity for New Process to grow our value-added metals solutions and supply-chain strategy, to continue to provide our customers with exceptional service and value. The entire New Process team and I are excited for this strategic step,” said Richard Fant, New Process Steel chief executive officer.
The transaction is subject to customary closing conditions and receipt of regulatory approvals, the company said.
