Nor does it mention Bain's other steel investment in the early 1990s, in an Indiana start-up called Steel Dynamics.
Other competitors in the basic materials sector include: Steel Dynamics (STLD), AK Steel (AKS), and US Steel (X).
Steel Dynamics Inc. shares are currently trading down about 3% on the day.
The report also cited the strong quarterly dividend history at Steel Dynamics Inc.
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Here are two lessons from the Steel Dynamics story: First, innovation is essential to the competitiveness of U.S. manufacturing.
Steel Dynamics also has lean staffing and a tight organizational chart--only four layers of supervision between Busse and the crews.
More, Strassel notes another Bain steel factory investment, Steel Dynamics, has increased revenue 25 times since its 1996 IPO and now employs 6, 000 workers.
World Steel Dynamics, a consultancy, reckons that the cost of building steel plants in China may be up to 60% lower than most other big steel-producing countries.
Steel Dynamics trades at ten times likely earnings for 2007.
Steel Dynamics Inc. ( NASD: STLD) is a member of the Russell 3000, giving it special status as one of the largest 3000 companies on the U.S. stock markets.
On average, according to World Steel Dynamics, a consultancy, the mini-mills use less than one-third of the labour that the integrated mills need to make a tonne of sheet steel.
Peter Marcus, a steel-industry veteran and managing partner of World Steel Dynamics in New York, says that by 2010 China will have capacity for steel products some 63m tonnes ahead of forecast domestic demand.
Among the companies rolling over bond maturities were TXU , SandRidge Energy , and Steel Dynamics , while notable bond-for-loan takeouts were launched by Caesars Entertainment , Community Health , First Data , and Univision Communications .
He is the founder and chief executive of Steel Dynamics (nasdaq: STLD - news - people ) (38, STLD) , which is a smaller version (4.7 million tons a year) of Nucor, a low-cost minimill operator.
Among the largest underlying components of XME, in trading today Hecla Mining Co. ( NYSE: HL) is off about 0.2%, Steel Dynamics Inc. ( NASD: STLD) is down about 0.6%, and Alcoa, Inc. ( NYSE: AA) is lower by about 3.1%.
Among the largest underlying components of XME, in trading today Stillwater Mining Co. ( NYSE: SWC) is up about 1.8%, McEwen Mining Inc. ( NYSE: MUX) is up about 2%, and Steel Dynamics Inc. ( NASD: STLD) is up by about 1.7%.
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Among the largest underlying components of XME, in trading today McEwen Mining Inc. ( NYSE: MUX) is down about 3.6%, Stillwater Mining Co. ( NYSE: SWC) is off about 5.3%, and Steel Dynamics Inc. ( NASD: STLD) is lower by about 2.9%.
In the 1990s, when the "old-technology" steel industry in the U.S. was failing, Bain Capital helped build a new steel company, Steel Dynamics, which has grown into one of the largest steel producers in America today, holding its own against Chinese producers.
Among the largest underlying components of XME, in trading today McEwen Mining Inc. ( NYSE: MUX) is down about 0.3%, Steel Dynamics Inc. ( NASD: STLD) is down about 1%, and Allied Nevada Gold Corp ( AMEX: ANV) is up by about 0.1%.
Among the largest underlying components of XME, in trading today McEwen Mining Inc. ( NYSE: MUX) is down about 0.2%, Steel Dynamics Inc. ( NASD: STLD) is down about 0.9%, and United States Steel Corp. ( NYSE: X) is lower by about 1.5%.
Among the largest underlying components of XME, in trading today Arch Coal, Inc. ( NYSE: ACI) is up about 3.2%, Steel Dynamics Inc. ( NASD: STLD) is up about 0.8%, and Schnitzer Steel Industries, Inc. ( NASD: SCHN) is higher by about 1.5%.
After a period of high prices, with few exceptions the cost of scrap has been on the decline for more than a year, and Steel Dynamics has managed to increase the spread between the price of steel scrap and its average selling price per ton.
Aditya Mittal, president and chief financial officer of his father's company, told a recent London conference (run by a consultancy, World Steel Dynamics, and Metal Bulletin) that one of the emerging majors would be bound to be Chinese, despite the extreme fragmentation of China's industry at the moment.
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