Nucor Agrees to Acquire Republic Conduit for $335 Million
December 15 2016 - 5:18PM
Dow Jones News
By Tess Stynes
Nucor Corp. (NUE) agreed to acquire electrical-conduit maker
Republic Conduit from Tenaris SA for $335 million, the latest in a
string of acquisitions that have been expanding the U.S.
steelmaker's presence in the pipe-and-tube market.
Nucor, the country's biggest steelmaker by output, in recent
months has purchased Independence Tube Corp. and reached a deal to
acquire Southland Tube, expanding its position in the market for
hollow structural section steel tubing.
Republic Conduit employs roughly 300 people across its two
plants in Kentucky and Georgia. Its products are primarily used to
protect and route electrical wiring in nonresidential buildings.
The company also serves the power and industrial sectors.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
December 15, 2016 17:03 ET (22:03 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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