Steel Dynamics Inc. (SDI), Fort Wayne, Ind., and OmniSource Corp. have announced the execution of a definitive agreement whereby Steel Dynamics will acquire OmniSource, a privately held scrap recycling company based in Fort Wayne, Ind.
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Both companies' boards of directors have unanimously approved the agreement.
Under the terms of the deal, OmniSource will operate as a wholly owned subsidiary of Steel Dynamics and will focus on ferrous and nonferrous scrap processing, brokerage and industrial scrap management. SDI's existing scrap operations in Virginia and Tennessee will be consolidated into OmniSource, as will its planned scrap processing ...