Steel Dynamics to Purchase Two Steel Recycling Facilities

Steel Dynamics, Inc. announced it has reached an agreement to purchase two privately owned metals recycling facilities in eastern Tennessee. The facilities are Elizabethton Iron & Metal in Elizabethton, Tennessee, and Johnson City Iron & Metal, in Johnson City, Tennessee. Together, the two scrap yards typically process in excess of 225,000 tons of ferrous scrap per year.

These yards will likely supply a portion of the ferrous scrap requirements to Steel Dynamics’ Roanoke Bar Division in Roanoke, Virginia, as well as to continue to sell ferrous and non-ferrous materials on the open market. The Tennessee yards will augment the steel scrap supplied to the Roanoke mill by company-owned Shredded Products, LLC, which operates facilities in Montvale, Virginia, and Rocky Mount, Virginia. After the close of the acquisition of the Tennessee facilities, the four company-owned yards are expected to be able to supply more than half of the ferrous scrap consumed by the Roanoke Bar Division.