Steel Dynamics Announces OmniSource Management Promotions

Steel Dynamics Announces OmniSource Management Promotions

Thursday, August 14th 2008

Steel Dynamics, Inc. announced a number of management promotions and organizational changes at OmniSource Corporation, its wholly-owned metals recycling subsidiary. The new assignments will bring additional industry depth and experience to OmniSource’s management team and are designed to further position the company for continued profitable growth in metals recycling. OmniSource is a significant provider of steel scrap to SDI’s electric-arc-furnace mini-mills, and continues to be an important resource for other ferrous and nonferrous scrap metals consumers.

In making these announcements, Mark Millett, Steel Dynamics Executive Vice President for Metals Recycling and Ferrous Resources and the recently appointed President and Chief Operating Officer of OmniSource Corporation, said, “We are delighted that OmniSource has such a talented workforce, with deep industry experience and management capabilities. These new appointments, all of which have come from within the company, will provide additional vision and leadership as we continue to build our OmniSource platform.

“In its first two full-quarters of operations as a part of Steel Dynamics, OmniSource exceeded our expectations in terms of the volume of scrap processed and sold as well as in its profitability, setting all-time OmniSource quarterly records. OmniSource now stands as the second largest ferrous scrap processor in North America and is also one of the nation’s top processors of nonferrous metals. Going forward, we expect to maintain OmniSource’s growth in ferrous and nonferrous recycling to both complement and support SDI’s continued growth in steelmaking. I am very pleased to have the opportunity to lead the OmniSource organization and look forward to its continued success.”

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