FORT WAYNE, Ind., Dec. 18, 2020 /PRNewswire/ -- Steel
Dynamics, Inc. (NASDAQ/GS: STLD) today announced leadership
appointments for the company's new Southwest-Sinton Flat Roll Steel
Division, its Columbus Flat Roll Steel Division, and a new position
for the company's flat roll steel metallics strategy.
"I am excited and pleased that our ongoing talent development
and succession planning efforts have provided these outstanding
internal leaders to help ensure our ongoing success," said
Mark D. Millett, Chief Executive
Officer. "These individuals embody our culture of safety,
excellence, and innovation."
Southwest-Sinton Flat Roll Division
Dennis Black will become the General Manager of
the company's new Southwest-Sinton Flat Roll Steel Division
reporting to Barry Schneider, Senior
Vice President, Flat Roll Steel Group effective February 1, 2021. In his new role, Mr. Black will
be responsible for the operations of the company's new Sinton Texas
Flat Roll Steel Mill that is expected to begin operations mid-year
2021. This $1.9 billion investment
will include a 3.0 million-ton electric arc furnace steel mill and
two value-added coating lines. Since 2016, Mr. Black has served as
general manager of the company's Vulcan Steel Products Division, a
downstream steel processing facility within the Long Products Steel
Group that was acquired in 2016. Mr. Black successfully led
the integration and optimization of this business over the last
four years.
Mr. Black was part of the team that constructed the company's
first flat roll steel mill in 1994, serving in several engineering
and operational roles in the melt shop. He eventually served
as the hot strip mill manager at the company's Butler Flat Roll
Division. Mr. Black also had leadership positions within the
company's long products steel operations, as a rolling mill manager
and hot mill manager at the Structural and Rail Division. Mr. Black
earned a bachelor's degree in electrical engineering from
Rose-Hulman Institute of
Technology.
Columbus Flat Roll Steel Division
Currently,
Madhu Ranade serves as Vice
President and General Manager of the company's Columbus Flat Roll
Steel Division. He has successfully led and grown Columbus for over
seven years. During the first quarter 2021, Mr. Ranade will
transition to having responsibility for procuring iron and iron
substitutes for the company's flat roll operations. Mr. Ranade is
uniquely qualified for this role based on his 43 years of steel
industry experience. Mr. Ranade earned a master's degree in
materials science and mineral engineering from the University of California at Berkeley and a
bachelor's of technology in metallurgical engineering from the
Indian Institute of Technology,
Mumbai.
As Mr. Ranade transitions into his new role, Daniel Keown will become the General Manager of
the company's Columbus Flat Roll Steel Division also reporting to
Barry Schneider, Senior Vice
President, Flat Roll Steel Group effective January 1, 2021. Mr. Keown will be responsible
for operations of the company's Columbus Flat Roll Steel Division,
comprised of a 3.2-million-ton electric arc furnace steel mill and
four value-added coating lines. Since 2014, Mr. Keown led the
operations of the company's Engineered Bar Products Division within
the Long Product Steel Group. The company acquired this location in
2004, and Mr. Keown was part of the team that successfully
reengineered, started, and operated the facility.
Mr. Keown began his career with Steel Dynamics in 1998 as a
process engineer at the Butler Flat Roll Division and held various
positions of increasing responsibility. Mr. Keown earned a master's
degree in engineering management and a bachelor's degree in
chemical engineering from Rose-Hulman
Institute of Technology.
About Steel Dynamics, Inc.
Steel Dynamics 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
facilities located throughout the United
States, and in Mexico.
Steel Dynamics produces steel products, including hot roll, cold
roll, and coated sheet steel, structural steel beams and shapes,
rail, engineered special-bar-quality steel, cold finished steel,
merchant bar products, specialty steel sections and steel joists
and deck. In addition, the company produces liquid pig iron and
processes and sells ferrous and nonferrous scrap.
Note Regarding Non-GAAP Financial Measures
The
company reports its financial results in accordance with U.S.
generally accepted accounting principles (GAAP). Management
believes that Adjusted Diluted Earnings Per Share, a non-GAAP
financial measure, provides additional meaningful information
regarding the company's performance and financial strength.
Non-GAAP financial measures should be viewed in addition to, and
not as an alternative for, the company's reported results prepared
in accordance with GAAP. In addition, because not all companies use
identical calculations, Adjusted Diluted Earnings Per Share
included in this release may not be comparable to similarly titled
measures of other companies.
Forward-Looking Statements
This press release
contains some predictive statements about future events, including
statements related to conditions in domestic or global economies,
conditions in steel and recycled metals market places, Steel
Dynamics' revenues, costs of purchased materials, future
profitability and earnings, and the operation of new, existing or
planned facilities. These statements, which we generally precede or
accompany by such typical conditional words as "anticipate",
"intend", "believe", "estimate", "plan", "seek", "project", or
"expect", or by the words "may", "will", or "should", 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 a guarantee 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) the effects of
pandemics or other health issues, such as the novel coronavirus
outbreak (COVID-19); (3) cyclical and changing industrial demand;
(4) 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 non-residential and residential
construction, automotive, manufacturing, appliance, energy, and
other steel-consuming industries; (5) fluctuations in the cost of
key raw materials and supplies (including steel scrap, iron units,
zinc, graphite electrodes, and energy costs) and our ability to
pass on any cost increases; (6) the impact of domestic and foreign
imports, including trade policy, restrictions, or agreements; (7)
unanticipated difficulties in integrating or starting up new,
acquired or planned businesses or assets; (8) risks and
uncertainties involving product and/or technology development; and
(9) occurrences of unexpected plant outages or equipment
failures.
More specifically, we refer you to Steel Dynamics' 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 under the headings
Special Note Regarding Forward-Looking Statements and Risk Factors,
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 Securities and Exchange
Commission website, www.sec.gov, and on the Steel Dynamics website,
www.steeldynamics.com under "Investors — SEC Filings".
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SOURCE Steel Dynamics, Inc.