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Article Excerpt
Editor's note: Three leading steel executives--two producers and one distributor--discussed the challenges facing the steel market during the Metals Service Center Institute's annual meeting last month in San Diego. Panelists included Dan DiMicco, vice chairman, president and CEO of Nucor Corp.; Maurice "Sandy" Nelson Jr., president, CEO and COO of Earle M. Jorgensen Co.; and Peter Southwick, president and CEO of Ispat Inland Inc. The panel was moderated by Peter Marcus, managing partner of World Steel Dynamics.
Steel production has undergone considerable consolidation on a global basis, but more work must still be done, said Dan DiMicco of Nucor Corp., also current chairman of the American Iron and Steel Institute, Washington, D.C.
To date, about 73 merger or acquisition transactions have been announced in the metals industry with a total value of $5.9 billion. Upon the successful completion of pending acquisitions, he said, "what you will see at the end of this year is three major steel producers [U.S. Steel, Nucor and ISG] that together will have almost 60 percent market share. That's major consolidation in both long and flat products. Is...
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