Nov. 11, 2015

Nucor Acquires Gerdau Bar Mills

Nucor Corp., Charlotte, N.C., has agreed to acquire Gerdau Long Steel's Bright Bar assets in Orrville, Ohio, and Cartersville, Ga. Terms of the agreement were not disclosed. The facilities manufacture cold-drawn steel bars for steel service centers and other markets across the U.S. and have a combined production capacity of 75,000 tons per year.

"This acquisition advances Nucor's strong competitive position in cold-finished bar and increases our downstream participation in this important channel to market," says Nucor Chairman, CEO and President John Ferriola. "It is another step in the execution of our strategy to produce higher-margin value-added products and will be highly complementary to our existing cold-finish operations."

The acquisition also improves Nucor’s geographic coverage and expands its range of products in the steel bar market segment, say company executives, who expect the deal to close later this month.


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Wednesday, October 18, 2017