Steel Dynamics to Expand Production of Special-Bar-Quality Steels

Steel Dynamics, Inc. (NASDAQ: STLD) today announced that its board of directors has approved an expansion of its Engineered Bar Products Division located in Pittsboro, Indiana. The expansion is intended to both increase the steel mill's capacity to produce special-bar-quality (SBQ) steel bars and to expand the mill's product offerings of high-quality small-diameter SBQ bars.The expansion is expected to increase the mill's overall annual production capacity from 625,000 tons to 950,000 tons, a 52 percent increase. Subject to the anticipated receipt of necessary permits, which the company expects to be forthcoming in short order, and the receipt of state and local government support, the project is scheduled to be completed in the second half of 2013 and to cost approximately $76 million. With this additional capacity, the company's Engineered Bar Products Division would be among the largest single-site SBQ production facilities in North America. The expansion includes numerous enhancements to the facility's rolling mill for the production of precision sized bars, as well as improvements in material handling and staging. The company also plans to expand the mill's bar finishing capabilities for non-destructive testing of finished bars, potentially doubling its inspection capacity.