Steel Dynamics Announces Steel Operations Leadership Appointments
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.
Source Steel Dynamics, Inc.
Contact: Investor Relations -- +1.260.969.3500
