Mercedes-Benz AG And Steel Dynamics Inc. Secure Sustainable Steel Supply Deal For Tuscaloosa Plant
Portfolio Pulse from Benzinga Newsdesk
Mercedes-Benz has signed an agreement with Steel Dynamics, Inc. (SDI) to source over 50,000 tonnes of CO2-reduced steel annually for its Tuscaloosa plant. The steel will be made using an electric arc furnace powered by 100% renewable sources. The deal is part of Mercedes-Benz's global effort to decarbonize its steel supply chain. The CO2-reduced steel from SDI will be introduced into series production at the Tuscaloosa plant as early as September 2023.
September 18, 2023 | 1:05 pm
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Steel Dynamics, Inc. (SDI) has secured a deal with Mercedes-Benz to supply over 50,000 tonnes of CO2-reduced steel annually. This could potentially increase the company's revenues and enhance its reputation in the industry.
The deal with Mercedes-Benz could potentially increase Steel Dynamics' revenues as it is a significant order. Moreover, being part of Mercedes-Benz's initiative to decarbonize its supply chain could enhance Steel Dynamics' reputation in the industry, potentially attracting more business.
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