Steel manufacturer Steel Dynamics entered into an agreement to acquire the remaining 55% equity interest in New Process Steel — 3 years after buying a 45% stake.

Terms of the transaction were not disclosed.

Steel Dynamics, one of the largest steel producers and metal recyclers in North America, operates facilities across the U.S. and Mexico. The company uses a circular manufacturing process that relies primarily on recycled scrap, aiming to reduce carbon emissions in its steel production. In addition to its core steel and recycling operations, Steel Dynamics is investing in aluminum production, targeting flat rolled products for use in beverage cans, automotive and industrial markets.

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New Process Steel is a metal products manufacturer and distributor based in Houston, TX. The company operates six manufacturing sites, including two in Mexico and four in the U.S. Two of the U.S. sites are located at Steel Dynamics’ Butler and Columbus Flat Roll Steel divisions. The company was purchased in 1952 by Gene Fant and is now led by CEO Richard Fant, who has overseen its expansion and modernization for more than 25 years. New Process employs about 1,275 people and is Steel Dynamics’ largest flat roll steel customer.

“This acquisition expands our exposure to value-added manufacturing opportunities, while continuing to serve our other long-standing flat rolled steel customer needs,” Steel Dynamics Chairman and CEO Mark Millett said in an Aug. 19 news release. “New Process has a reputation for high-quality standards and strong customer relationships. With this next step, we believe New Process will continue to have a number of opportunities for value-added manufacturing growth.”