US-based Steel Dynamics Inc has entered into ‘a definitive agreement’ to acquire Companhia Siderurgica Nacional (Heartland) from CSN Steel, a wholly-owned subsidiary of Companhia Siderurgica Nacional (CSN).

The Heartland plant is located in Terre Haute, Indiana, and produces various types of higher-margin, flat roll steel by further processing hot roll coils into pickle and oil, cold roll, and galvanised products.

Steel Dynamics has agreed to purchase Heartland for $400 million in cash inclusive of $60 million of normalised working capital.