Dec. 7, 2016

Nucor Acquires Southland Tube

Nucor Corp., Charlotte, N.C., has expanded its offerings in the pipe and tube market again with the acquisition of Southland Tube, Birmingham, Ala. The $130 million deal follows Nucor’s September purchase of Independence Tube. Southland Tube is a manufacturer of hollow structural section tubing.

"The acquisition of Southland Tube is an excellent fit for our Nucor family and our strategy for profitable growth," says John Ferriola, chairman, CEO and president of Nucor. "It complements our recent acquisition of Independence Tube in the HSS steel tubing market. We see this market as a great opportunity to leverage Nucor's capabilities and strengths, while also adding to our portfolio of products and services."

HSS is used in an array of structural and mechanical applications including nonresidential construction, infrastructure, and heavy equipment. Southland Tube has one facility in Birmingham, which is well situated to serve the HSS market, Nucor executives say. With annual shipments of about 240,000 tons, Southland Tube claims the third largest market share in HSS.

Through the acquisitions of Independence Tube and Southland Tube, Nucor is attempting to build a market leadership position in the HSS steel tubing market, while providing an additional channel to market for Nucor's sheet mills. In 2006, Nucor shipped 8 percent of its steel to the company’s downstream businesses. It expects that number to grow to about 20 percent with the acquisitions.


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Monday, October 23, 2017