Jun 6 2005
Nucor Corporation has announced that its wholly owned subsidiary, Nucor Steel Marion, Inc., has completed the purchase of substantially all of the assets of Marion Steel Company ("Marion") for a cash purchase price of approximately $110.0 million, subject to post closing adjustments.
Strategically located in Marion, Ohio, the bar products mill, with an annual capacity of approximately 400,000 tons, is in close proximity to 60% of the steel consumption in the United States. The company's principal products are angles, flats, rebar, rounds and signposts.
"Marion is an excellent addition and complement to our existing bar products group," said Dan DiMicco, Nucor's Vice Chairman, President and Chief Executive Officer. "We are proud to have the Nucor Steel Marion team as part of the Nucor family."
"We believe that the combination of Marion into the Nucor bar mill group will enhance the level, reliability and quality of service to our combined customers," said Mike Parrish, Executive Vice President of Nucor. "We have been conducting training and orientation sessions with our new team members and we are excited to welcome them to the bar mill group."
Nucor and affiliates are manufacturers of steel products, with operating facilities in sixteen states. Products produced are: carbon and alloy steel - in bars, beams, sheet and plate; steel joists and joist girders; steel deck; cold finished steel; steel fasteners; metal building systems; and light gauge steel framing. Nucor is the nation's largest recycler.
http://www.nucor.com/