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Henry Acquires SDI's Half of Paragon Steel

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Jerry Henry, Jr., has acquired the remaining 50 percent interest in Paragon Steel, Butler, Ind. Paragon was founded in 1994 as a 50-50 joint venture between Henry and Steel Dynamics, Inc. Henry now holds 100 percent ownership of the company.

Paragon Steel has grown significantly over the years as a distributor of flat-rolled steel products, as well as a toll processor for a wide-range of customers. Paragon Steel employs 60 people at two facilities located in Butler near the SDI sheet mill. The Henry family will oversee operations at Paragon Steel.

Henry also owns Midwest Pipe & Steel, Inc., and Paragon Tube Corp. The Midwest division has grown dramatically in the flat-rolled segment in recent years, he says. The acquisition of the other half of Paragon will give the company the capacity to continue growing in the flat-rolled market.