Steel Dynamics' Unit Recognized by GM

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Steel maker Steel Dynamics, Inc.’s (STLD) unit – Superior Aluminum Alloys LLC – has been recognized by General Motors (GM) as one of its top global automotive suppliers. Superior Aluminum Alloys received the award at the 21st annual Supplier of the Year awards ceremony in Detroit.

Superior Aluminum Alloys was among the 83 suppliers acknowledged by General Motors who consistently exceeded the auto giant’s expectations by offering quality products and services on time and creating outstanding value. This is the first Supplier of the Year award for Superior Aluminum Alloys.

The Supplier of the Year award is conferred to less than 1% of General Motors’ roughly 18,500 suppliers across the globe. The winners are acknowledged for offering innovative technology, superior quality, timely crisis management and competitive, total-enterprise cost solutions. The winners are selected by a global team of General Motors’ purchasing, engineering, quality, manufacturing and logistics executives.

Superior Aluminum Alloys, a secondary-aluminum smelting producer, makes around 260 million pounds of certified aluminum alloys annually. It was formed by OmniSource Corporation, a wholly-owned subsidiary of Steel Dynamics, in the 1990s.

Last month, Steel Dynamics provided its first-quarter 2013 guidance. It sees earnings in the band of 17 cents to 21 cents per share for the quarter.

Steel Dynamics expects overall steel shipments for the first quarter to be considerably flat sequentially due to an expected fall in galvanized sheet volumes, partly masked by increased long product shipments, including engineered special-bar-quality products, standard railroad rail and wide flange products.

Steel Dynamics expects continued demand in the automotive, manufacturing, energy and residential construction sectors and sees signs of improvement in the nonresidential construction sector. The company will report its first quarter results on Apr 17.

Steel Dynamics currently carries a short-term Zacks Rank #3 (Hold).

Other steel producing companies worth considering are Gibraltar Industries, Inc. (ROCK) and Shiloh Industries Inc. (SHLO) with both holding a Zacks Rank #1 (Strong Buy).

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