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Steelmaker Nucor Continues Acquisition Spree

Steelmaker Nucor Continues Acquisition Spree


Industry Segment: Metals & Minerals | Word Count: 709 Words

Nucor Corporation (NYSE:NUE) (Charlotte, North Carolina) continues to expand its downstream operations, with the acquisition of Summit Utility Structures LLC (SUS) (West Hazelton, Pennsylvania) and Sovereign Steel Manufacturing LLC, which produces metal poles and other steel structures for utility infrastructure and highway signage. This comes after Nucor last month announced its largest acquisition ever, purchasing residential and commercial garage door manufacturer C.H.I. Overhead Doors (C.H.I.) (Arthur, Illinois) for $3 billion.

Other recent downstream acquisitions include insulated metal panel manufacturers CENTRIA (Pittsburgh, Pennsylvania) and Metl-Span (Lewisville, Texas); steel racking manufacturer Elite Storage Solutions (Monroe, Georgia); and a majority ownership position in steel processing and finishing company California Steel Industries, Incorporated (CSI) (Fontana, California).

Industrial Info is tracking $7 billion worth of active projects belonging to Nucor, including two major projects at its 1.6 million-ton-per-year Gallatin mill in Kentucky that are scheduled for completion later this month.

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