Steel Dynamics Inc. is on the fast-track to expansion, launching more than $100 million in investments in two projects – just weeks apart.
The Fort Wayne-based steelmaker on Tuesday announced plans to invest almost $27 million and create 40 new jobs at its Columbia City operation.
The announcement comes on the heels of news that Steel Dynamics has earmarked $75 million for a major expansion to its rolling capacity in Pittsboro, just west of Indianapolis.
CEO Mark Millett said the central Indiana project will broaden the companys product range and diversify the mix it produces at its Columbia City mill, which will create the feedstock – or raw material – for Pittsboros expanded engineered bar products operation. The Whitley County plant now primarily makes heavy structural beams.
According to Tuesdays statement, the company will install what officials described as a state-of-the-art heat-treating system in Columbia City.
The system will allow Steel Dynamics to produce up to 350,000 tons of standard strength and head hardened plain, carbon steel rails for the railroad industry.
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