SOURCE: Industrial Info Resources

October 17, 2008 07:30 ET

Steel Dynamics' Profit Soars 92% Despite Steep Drop in Ferrous Scrap Prices, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - October 17, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Despite a large drop in ferrous scrap prices, Steel Dynamics Incorporated (NASDAQ:STLD) (Fort Wayne, Indiana) announced on October 16 that its third-quarter 2008 profit jumped 92% to $193 million, compared with $101 million in the same period last year. The increase is attributed to strong revenues and the company's recent acquisition of Recycle South.

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