Cultural gap to slow EF-integrated M&A: SDI

May 06, 2014 | 02:32 PM | Michael Cowden

Tags  Steel Dyanmics, SDI, Mark Millett, AISTech, electric-arc furnace, EF, integrated producers, steel mergers mini-mill

INDIANAPOLIS — There is still room for consolidation in a fragmented steel industry, but core cultural gaps between integrated steelmakers and electric-arc furnace (EF) producers could delay that process, Steel Dynamics Inc.’s (SDI’s) top executive said May 6.

"Further consolidation is inevitable. However, cultural differences between integrated and electric-arc furnace companies may delay that meaningful consolidation that needs to occur," Mark D. Millett, president and chief executive officer of Fort Wayne, Ind.-based SDI, said at the Association for Iron and Steel Technology’s annual AISTech conference in Indianapolis.....

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