Liquid Pig Iron Operation Restarted

Fort Wayne, IN— Steel Dynamics, Inc. is making plans to restart its Iron Dynamics operation in Butler, Indiana, in the second half of 2003. After a thorough evaluation of the production trials that were completed in November and December of 2002, the company has concluded that improved production technology, coupled with the ability to recycle waste materials, makes it feasible and desirable for the facility to be restarted to produce liquid pig iron.

SDI expects the operation will be able to produce liquid pig iron in sufficient quantities and at a cost to be competitive with purchased pig iron. With the recent escalation of raw materials costs, particularly pig iron, the Iron Dynamics operation is expected to provide a cost-effective alternative to purchased pig iron. In addition, the use of liquid pig iron provides cost and operational benefits to SDI's steel-making operations.
The company's Board of Directors approved a capital investment of approximately $14 million to install three additional briquetting machines.