"During 2015, we identified the pursuit of higher margin downstream business opportunities that utilise our steel products in our manufacturing processes as one of our targeted growth objectives," said Mark D. Millett, President and Chief Executive Officer. "Strategies designed to reduce volatility in both strong and weak market cycles given the optionality of steel feedstock availability. In a weak steel demand environment, these companies can purchase steel from within our own mills, thereby increasing SDI's steel mill utilisation. As a special consumer of the quality products our Engineered Bar Products division currently produces, Vulcan perfectly depicts this model and is a perfect fit for our core operational strengths. "

"I have been a valued customer of our Engineered Bar Products Division for over a decade. I congratulate Bill and Kent Upton on creating a tremendous company and team. We look forward to welcoming Vulcan's employees and customers to the Steel Dynamics family We are excited to add the Vulcan brand and the quality of our products to our portfolio," Millett concluded.

The transaction is valued at approximately 5.0 times 12-month EBITDA at 31 March 2016, excluding potential benefits related to income tax. The transaction is subject to customary conditions and regulatory approvals. Steel Dynamics expects to receive all necessary regulatory approvals and to complete the transaction by August 2016

Forward-Looking Statements

This press release contains certain forward-looking statements regarding future events, including statements relating to the operation of new or existing facilities. These statements, which we generally refer to in terms such as "anticipate," "intend," "believe," "estimate," "plans," "seeks," "projects," or "expects" before or after typical conditional words, or by words such as "may," "will," or "should" be considered within the safe harbours of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will" or "should" should be considered "forward-looking" and are subject to a number of risks and uncertainties. These statements are made only as of the date on which they are made and are based on information and assumptions that we believe to be reasonable as of such date with respect to our business and the environment in which it operates. Such forward-looking statements are not guarantees of future performance and we undertake no obligation to update or revise any such statements. Some of the factors that could cause such forward-looking statements to differ from expectations include: (1) the impact of uncertain economic conditions; (2) cyclical and changing industrial demand; (3) changes in conditions in any steel or scrap consuming industry that affects the demand for our products, including the strength of non-residential and residential construction, automotive, appliance, tubular, and other steels─consuming industries; (4) changes in the cost of key raw materials, including scrap, iron units and energy costs; and (5) changes in the price of our products. (5) fluctuations in the cost of key raw materials (including scrap, iron ore units and energy costs) and our ability to pass on any cost increases; (6) unanticipated difficulties in integrating or launching new businesses or acquiring businesses; (7) risks and uncertainties related to product and/or technology development; and (8) the occurrence of unanticipated plant shutdowns or equipment failures.