Nov. 9, 2016

Nucor Completes Independence Tube Acquisition

Nucor Corp., Charlotte, N.C., has closed its acquisition of Independence Tube Corp., Chicago. The minimill steelmaker purchased the tube manufacturer for approximately $435 million.

"We are pleased to welcome the 335 teammates at Independence Tube to the Nucor family," says John Ferriola, chairman, CEO and president of Nucor. "This is a great acquisition for Nucor, giving us another growth platform and enhancing our position as the most comprehensive provider of steel solutions to the construction and infrastructure markets."

Independence Tube is a manufacturer of hollow structural section steel tubing, which is used in a broad array of structural and mechanical applications including nonresidential construction, infrastructure, and agricultural and construction equipment end-use markets. Independence Tube has the second highest market share in HSS, selling its products primarily through service centers, which are also an important channel to market for Nucor products, noted company executives.

With the acquisition, Doug Jellison becomes president of Nucor Tubular Products. He previously served as vice president of corporate strategic planning for the company.


November 2017: 'Steady but Sloppy' Fittingly Sums 2017
More...
 
Pause
November 2017: Scrap First Steel Impact from Storms
More...
Fall 2017: Cutting & Sawing Equipment
More...
Summer 2017
More...
 
Pause
Advanced Controls on Braner Slitters
More...
AHVS Precision Leveler Features Flip-Top Design
More...
Formtek’s Tishken Slitter Increases Production Volume
More...
Red Bud System Handles High-Strength Steels
More...
Bradbury Launches Flat Trak CL Monitoring System
More...
Artus Knives Custom Designed
More...
 
Pause
Privacy Statement  |  Terms Of Use
Copyright by Metal Center News



Saturday, December 16, 2017