Vulcan Steel Products parent company Steel Dynamics, Inc. has agreed to acquire the remaining 55% equity interest in New Process Steel, L.P., making the prominent Houston-based metal products manufacturer and supply chain solutions provider a wholly owned subsidiary.

The deal expands Steel Dynamics’ exposure to value-added manufacturing, enhances its supply-chain capabilities, and solidifies its longstanding relationship with its largest flat roll steel customer.

Founded in 1906 as a small sheet metal shop in Dallas, TX, New Process Steel processes and distributes carbon steel products in North America to OEMs in North America.

The transaction, which includes New Process Steel’s six manufacturing facilities in the U.S. and Mexico and its 1,275 employees, is pending customary closing conditions and regulatory approval.

Steel Dynamics acquired Pelham, AL-based Vulcan in 2016.

Founded in 1993, Fort Wayne, IN-based Steel Dynamics is one of the largest domestic steel producers and metals recyclers in the U.S., with additional facilities in Mexico.