| Steel Dynamics, Inc. announces plans to construct coil coating line in Butler, Indiana |
| FORT WAYNE, INDIANA, May 17, 2002 — The Board of Directors of Steel Dynamics, Inc. (NASDAQ: STLD)
has approved, subject to final review and permitting, the construction
of a coil coating facility with a capacity of 240,000 tons. The new
coating facility will be located at the existing flat roll mill in
Butler, Indiana. Capital costs for the project are estimated at $25 to
$30 million and the facility will employ approximately 40 people. “We
are excited about the opportunity to vertically integrate into painted
products that will allow further market diversification at Butler,”
said Mark Millett, vice president and general manager.
The new facility will incorporate state-of-the-art coating technology and environmental controls. It is anticipated that the facility will be able to coat pickled hot band, hot and cold rolled galvanized and cold rolled products that are currently produced at the Butler mill. The facility will be able to coat strip coils with a thickness of .010” to .070” and widths from 36” to 64”. Steel Dynamics, Inc. is one of the most profitable steel producers in the United States in terms of operating profit per ton. The Company owns and operates a state-of-the-art, low-cost flat-rolled mini-mill located in Butler, Indiana. For more information about Steel Dynamics, Inc., please visit www.steeldynamics.com. Forward Looking StatementsThis press release contains predictive statements about future events, including statements related to conditions in the steel marketplace, the construction and operation of new or existing facilities, and the manufacture and marketing of new products. These statements are intended to be made as “forward-looking” within the safe harbor protections of the Private Securities Litigation Reform Act of 1995. Such predictive statements are not guarantees of future performance, and actual results could differ materially from our current expectations. We refer you to our detailed explanation of the many factors and risks that may cause such predictive statements to turn out differently, as set forth in the most recent Steel Dynamics, Inc. Annual Report on Form 10-K and in other reports which we from time to time file with the Securities and Exchange Commission, available publicly on the SEC’s web site at www.sec.gov. Contact: Mark Millett, Vice President and General Manager, |
| 5/17/2002 |