Marion County (Indiana) Prosecutor Dismisses All OmniSource Charges

FORT WAYNE, Ind., July 13, 2011 /PRNewswire/ — Steel Dynamics, Inc. (NASDAQ/GS:
STLD)

The Marion County Prosecutor’s Office (MCPO) today announced the dismissal of
all criminal charges and resolution of civil lawsuits pending against OmniSource
Corporation, one of the state’s largest metal recyclers.

Marion County Prosecutor Terry Curry said, “The judge in the pending criminal
case has ruled that OmniSource was improperly charged as a corrupt business
enterprise under Indiana’s law. Having now carefully reviewed the case, which
was initiated by Grand Jury indictment under my predecessor, I can say that the
evidence does not support those allegations. There is simply insufficient
evidence that OmniSource or its employees knowingly engaged in any unlawful
transactions. This office, therefore, will dismiss all pending litigation, and
all money seized from OmniSource by criminal investigators will be returned to
OmniSource; subject to the terms of the agreement below.”

OmniSource and the MCPO will, instead, work cooperatively together, building
upon OmniSource’s training and internal anti-theft programs and procedures, to
see mutually beneficial ways to enhance the detection, identification and
prosecution of metal thieves in Marion County, Indiana, and to develop a more
effective means, through enhanced law enforcement, local scrap dealer training,
and advocating for various legislative and local ordinance initiatives, to
deprive metal thieves in our county of a market for their ill-gotten goods. This
might include such things as state law or local ordinance strengthening
regarding possible bans on purchasing certain items, such as automobile
catalytic converters, clearer definitions of what constitutes a “vehicle”
requiring the presentation of a title, and requiring that transactions above a
certain dollar amount be paid for other than in cash.

“I also want to make clear,” continued Curry, “that there is no evidence that
any of the Indianapolis Metropolitan Police Department (IMPD) officers who
worked part-time for OmniSource at its retail facilities as part of its
anti-theft program were involved in any kind of criminal activity. During their
service, dozens of arrests were made and police reports filed. There is no
evidence that officers either condoned or facilitated the sale of stolen goods.”
Subject to current guidelines and the approval of the Department of Public
Safety, OmniSource will resume their part-time off-duty scrap theft interdiction
positions with OmniSource.

“This case, however, highlights the continuing problems and high cost of
property crime involving stolen metal in Marion County,” stated Prosecutor
Curry. “That is why we believe that it is so important that the MCPO and law
enforcement in general establish an ongoing process with OmniSource and other
responsible members of the scrap recycling community, as well as the local
chapter of the scrap industry trade association, the Institute of Scrap
Recycling Industries (ISRI), to work toward finding better ways, consistent with
sound and realistic business practices, to deter metal theft.”

In particular, it was announced that local law enforcement is now online with
ScrapTheftAlert.com which runs a program that will enable the IMPD, Marion
County Sheriff’s Department and other police agencies within Marion County to
alert scrap dealers of significant theft of materials in the area and to enable
the dealers to be on the lookout if such goods are presented for sale at their
yards. OmniSource has monitored and distributed these alerts internally to its
buyers for some time and will work with law enforcement to encourage other
dealers to do the same.

OmniSource and the MCPO will also jointly train scrap company employees
throughout Marion County, as well as law enforcement officers and property crime
prosecutors in how to spot potentially problematic materials offered for sale,
how to properly question the would-be sellers as to the circumstances
surrounding their possession of such goods, how to make responsible purchase
determinations, and how to properly preserve potential evidence, including a
record of who the seller was, should it turn out that purchased materials were
in fact stolen.

Steel Dynamics’ President and Chief Operating Officer, and OmniSource President,
Mark Millett, said: “My thanks to Prosecutor Curry. He approached this case with
fairness and professionalism. Long before this investigation occurred, our
company invested over $1 million in anti-theft measures in Marion County, hired
IMPD officers, lobbied for stronger scrap purchase regulations, and installed
cameras and monitoring software that takes and stores the photos and pertinent
identifying information of every seller and his or her goods. Prosecutor Curry
has renewed our faith in the system, and we pledge our full cooperation to help
reduce the incidence of stolen metal transaction in Marion County.”

“Furthermore,” continued Millett, “the issue has never been about the money that
was seized from our yards, but, rather, our business reputation and integrity of
our employees. To that end, we have agreed as a gesture of good faith to
transfer the money that was seized, upon its return to us, to City of
Indianapolis, Law Enforcement Fund – a total of $300,000 – to be utilized by law
enforcement as it deems appropriate to further its training and other law
enforcement programs. We look forward to working with Prosecutor Curry’s office
and with law enforcement as an active and committed business leader in
Indianapolis.”

SOURCE Steel Dynamics, Inc.