$Stock*Shop*Charts*News*Option$

[Tuff-Stuff]

Steel Dynamics to buy joist-making assets from Commercial Metals Company (STLD) 14.35 : Co announces it has agreed to acquire certain facilities and assets from affiliates of Commercial Metals Company (CMC. These assets will become a part of co's wholly owned subsidiary, New Millennium Building Systems. The transaction is expected to close within the next 30 days. In addition to the plants mentioned above, the agreement includes the purchase of complementary assets, primarily production and material handling equipment from the other plants that were shut down by CMC. In total, co is paying $17 mln for the purchase of the CMC joist-making facilities and assets. Co estimates average cost to build and equip a new facility would be $20-25 mln.