Did Steadfast CEO step down?
Steel Dynamics did not acquire the entire Commercial Metals Company (CMC). However, in September 2010, Steel Dynamics announced an agreement to purchase specific joist-making assets and facilities from CMC for $17 million. At the time of the transaction, this was a strategic move for Steel Dynamics to enhance its structural steel production capabilities, as the cost was significantly lower than the projected $20 to $25 million required to build and equip a single new joist plant from scratch. This targeted asset acquisition allowed Steel Dynamics to scale its operations efficiently within the construction supply market while CMC focused on its core business areas.
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As of July 23, 2026, Steel Dynamics (STLD) has a market capitalization of approximately $34.70 billion [1.8.1].