Steel Dynamics Makes $45M Acquisition

Steel Dynamics is reporting fourth quarter net income of $20 million

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Fort Wayne-based Steel Dynamics Inc. (Nasdaq: STLD) has acquired steel decking facilities from a South Carolina company in a $45 million deal. The deal with Consolidated Systems Inc. includes facilities in Tennessee, Texas and Arizona.

Steel Dynamics will operate the plants through its subsidiary, New Millennium Building Systems LLC.

The company says the locations will allow for enhanced reach into the southwestern and western markets. Chief Executive Officer Mark Millett says the operations will provide an "accelerated avenue" to new steel deck product offerings. The facilities produce standard and premium specialty deck profiles. The plants are in Memphis, Tennessee, Phoenix, Arizona and Terrell, Texas.