UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC  20549

 


 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (date of earliest event reported) May 26, 2015 (May 21, 2015)

 

STEEL DYNAMICS, INC.

(Exact name of registrant as specified in its charter)

 

Indiana

 

0-21719

 

35-1929476

(State or other jurisdiction

 

(Commission File Number)

 

(IRS Employer

of incorporation)

 

 

 

Identification No.)

 

7575 West Jefferson Blvd, Fort Wayne, Indiana 46804

(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code:  260-969-3500

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 8.01.  Other Events.

 

On May 21, 2015, Steel Dynamics, Inc. issued a press release titled “Steel Dynamics Announces Planned Paint Line and Galvalume® Capacity Expansion.” A copy of that press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

Item 9.01.  Financial Statements and Exhibits.

 

(d) Exhibits.

 

The following exhibit is filed with this report:

 

Exhibit Number

 

Description

 

 

 

99.1

 

A press release dated May 21, 2015, titled “Steel Dynamics Announces Planned Paint Line and Galvalume® Capacity Expansion.”

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereto duly authorized.

 

 

 

 

STEEL DYNAMICS, INC.

 

 

 

 

 

/s/Theresa E. Wagler

Date: May 26, 2015

By:

Theresa E. Wagler

 

Title:

Chief Financial Officer

 

2




Exhibit 99.1

 

Press Release

May 21, 2015

GRAPHIC

 

7575 W. Jefferson Blvd.

 

Fort Wayne, IN 46804

 

Steel Dynamics Announces Planned Paint Line and Galvalume® Capability Expansion

 

FORT WAYNE, INDIANA, May 21, 2015 / PRNewswire / Steel Dynamics, Inc. (NASDAQ/GS: STLD) today announced plans to expand its offering of value-added flat roll steel products through the addition of painting and Galvalume capabilities at its Columbus, Mississippi steel mill.  The company plans to invest approximately $100 million and create 40 new jobs in order to add production capability of higher-margin pre-painted and Galvalume flat roll steel.

 

“This investment is a strategic step toward further diversification into higher-margin products for our Columbus Flat Roll Division,” said Mark D. Millett, Chief Executive Officer.  “The additional width capability and vacuum degassing equipment at the Columbus steel mill, enables us to further diversify our pre-painted product offerings by physical aspect and geography.  We already have two paint lines and the ability to produce Galvalume steel in Indiana.  However, the Columbus investment will allow us to produce double-wide steel, and sell into the southeastern markets, including Mexico.  We plan to sell surface-critical, appliance-grade steel, as well as construction related products, including those used in heating and air conditioning units, residential entry doors, and lighting fixtures.”

 

The most significant portion of the expansion will be the addition of a state-of-the-art continuous coil paint line with an annual coating capacity of 250,000 tons.  Operations are expected to begin during the first quarter of 2017, based on an 18 month project timeline, which includes permitting requirements.  The Columbus paint line will utilize an improved design similar to the company’s existing two lines located in Indiana.

 

“We have achieved significant success related to our existing pre-painted flat roll steel business,” stated Millett.  “Our customers recognize the quality of our products and the benefit of our shorter order-cycle, relative to competitor supply chains.  We are the only domestic steel company to have a contiguous paint line at a production location, offering painted steels directly to the consumer.  As a result of our supply chain efficiency, customers benefit from reduced logistic, administrative and inventory carrying costs.”

 

This growth project also includes the addition of equipment to an existing Columbus galvanizing line to enable production of Galvalume, or aluminum-zinc alloy coated flat roll steel.  The combination of aluminum and zinc significantly enhances corrosion performance and solar reflectivity, making it the material of choice for premium metal roofing used in construction.

 

“Additionally, we are appreciative and impressed by the support we received from the State and Local organizations of Mississippi,” said Millett.  “We are extremely grateful to Governor Phil Bryant for taking a personal interest in our project.  We also thank Mr. Joe Roberts and the staff of the Mississippi Development Authority, the Lowndes County Board of Supervisors and Industrial Development Authority, Appalachian Regional Commission, Mr. John Davis and the LINK Board, Mr. Joe Higgins and the staff of LINK, and the Tennessee Valley Authority.”

 

About Steel Dynamics, Inc.

 

Steel Dynamics, Inc. is one of the largest domestic steel producers and metals recyclers in the United States based on estimated annual steelmaking and metals recycling capability, with annual sales of $8.8 billion in 2014, over 7,700 employees, and manufacturing facilities primarily located throughout the United States (including six steel mills, eight steel coating facilities, two iron production facilities, over 90 metals recycling locations and six steel fabrication plants).

 



 

Forward-Looking Statement

 

This press release contains some predictive statements about future events, including statements related to conditions in the steel and metallic scrap markets, Steel Dynamics’ revenues, costs of purchased materials, future profitability and earnings, and the operation of new or existing facilities. These statements are intended to be made as “forward-looking,” subject to many risks and uncertainties, within the safe harbor protections of the Private Securities Litigation Reform Act of 1995. These statements speak only as of this date and are based upon information and assumptions, which we consider reasonable as of this date, concerning our businesses and the environments in which they operate. Such predictive statements are not guarantees of future performance, and we undertake no duty to update or revise any such statements. Some factors that could cause such forward-looking statements to turn out differently than anticipated include: (1) the effects of uncertain economic conditions; (2) cyclical and changing industrial demand; (3) changes in conditions in any of the steel or scrap-consuming sectors of the economy which affect demand for our products, including the strength of the nonresidential and residential construction, automotive, appliance, pipe and tube, and other steel-consuming industries; (4) fluctuations in the cost of key raw materials (including steel scrap, iron units, and energy costs) and our ability to pass-on any cost increases; (5) the impact of domestic and foreign import price competition; (6) unanticipated difficulties in integrating or starting up new or acquired businesses; (7) risks and uncertainties involving product and/or technology development; and (8) occurrences of unexpected plant outages or equipment failures.

 

More specifically, we refer you to SDI’s more detailed explanation of these and other factors and risks that may cause such predictive statements to turn out differently, as set forth in our most recent Annual Report on Form 10-K, in our quarterly reports on Form 10-Q or in other reports which we from time to time file with the Securities and Exchange Commission. These are available publicly on the SEC website, www.sec.gov, and on the Steel Dynamics website, www.steeldynamics.com.

 

Contact:  Marlene Owen, Director Investor Relations —+1.260.969.3500

 


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