US/Spanish copper business venture

United States / Spain – Carbon steel producer and metals recycler Steel Dynamics Inc. (SDI) is teaming up with Spain’s LaFarga Group to invest US$ 39 million in a new copper production facility.

‘We are proud to incorporate the advanced manufacturing technology of LaFarga Group in a state-of-the-art facility that deepens our commitment to Northeast Indiana and Allen County,’ says Mark Millett, SDI’s President and Chief Operating Officer. Oriol Guixa, Chief Executive Officer of LaFarga Group, comments: ‘This joint venture represents our first expansion into the USA and we are proud to partner with Steel Dynamics, a proven leader in the metals industry.’

The business will operate under the SDI LaFarga, LLC label and will incorporate the advanced manufacturing technology created by the Barcelona-based LaFarga Group. Plans include construction of a new manufacturing facility, and investigation of potential sites in Allen County is currently under way. The new venture is expected to lead to the creation of 35 new full-time management, administrative and production positions by 2013.

SDI is one of US’ largest producers of carbon steel and one of the biggest metals recyclers. Primary sources of 2010 revenues of US$ 6.3 billion were the manufacture and sale of steel products, the processing and sale of recycled ferrous and non-ferrous metals, and, to a lesser degree, the fabrication and sale of steel joist and decking products. Based in Fort Wayne, Indiana, SDI employs more than 6100 people.