A Nucor Knockoff Gets Ready To RollThane Peterson
Ready for Son of Nucor? A breakaway group from Nucor is planning to build an ultracompetitive steel minimill. Called Steel Dynamics, the company will be headed by Keith Busse, who ran Nucor's successful high-tech minimill in Crawfordsville, Ind. The startup hopes to best the impressive productivity of the Crawfordsville plant, which makes a ton of flat-rolled steel in only 36 worker minutes--vs. an industry average of four hours. Busse has secured $35 million in equity financing and hopes to start building by late 1994. Cities across the Midwest are offering enticements in hopes of nabbing the project.