"While we had great confidence that we would prevail on the facts and the law, we felt it was prudent at this time to exit this costly, protracted and distracting litigation," stated Mark Millett, President and Chief Executive Officer. "We maintained at all times that the lawsuit was without merit and that we did not conspire to limit steel production. To the contrary, the facts amply demonstrated that we both increased existing production and expanded our production capabilities during the relevant time period, and we believe plaintiffs ultimately recognized these facts."
About Steel Dynamics, Inc.
Steel Dynamics, Inc. 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 primarily located throughout the United States and 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.
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SOURCE Steel Dynamics, Inc.