CHARLOTTE, N.C., Aug. 10,
2017 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced
today that it has agreed to acquire St. Louis Cold Drawn, Inc., a
manufacturer of cold drawn rounds, hexagons, squares, and special
sections that mainly serve the U.S. and Mexican automotive and
industrial markets.
"This acquisition fits with our planned growth strategy by
expanding Nucor's position as the market leader in cold finished
bar products. It also creates synergies with our bar mills by
providing an additional channel to market for the special bar
quality (SBQ) products we produce," said John Ferriola, Chairman, CEO and President,
Nucor Corporation. "The acquisition of St. Louis Cold Drawn
complements our long-term strategy to profitably grow our
value-added product portfolio."
St. Louis Cold Drawn, Inc. employs 125 people and has two
manufacturing locations, one in St.
Louis, Missouri, and the other in Monterrey, Mexico, that have a combined annual
capacity of 200,000 tons. The addition of these facilities will
increase the total capacity of Nucor's cold finished bar and wire
facilities to more than 1.1 million tons annually and helps advance
our goal of growing our sales to automotive customers.
Nucor and its affiliates are manufacturers of steel products,
with operating facilities primarily in the U.S. and Canada.
Products produced include: carbon and alloy steel -- in bars,
beams, sheet and plate; hollow structural section tubing;
electrical conduit; steel piling; steel joists and joist girders;
steel deck; fabricated concrete reinforcing steel; cold finished
steel; steel fasteners; metal building systems; steel grating; and
wire and wire mesh. Nucor, through The David J. Joseph
Company, also brokers ferrous and nonferrous metals, pig iron and
HBI/DRI; supplies ferro-alloys; and processes ferrous and
nonferrous scrap. Nucor is North
America's largest recycler.
Certain statements contained in this news release are
"forward-looking statements" that involve risks and
uncertainties. The words "believe," "expect," "project,"
"will," "should," "could" and similar expressions are intended to
identify those forward-looking statements. Factors that might
cause the Company's actual results to differ materially from those
anticipated in forward-looking statements include, but are not
limited to: (1) competitive pressure on sales and pricing,
including competition from imports and substitute materials; (2)
the sensitivity of the results of our operations to prevailing
steel prices and the changes in the supply and cost of raw
materials, including scrap steel; (3) market demand for steel
products; and (4) energy costs and availability. These and
other factors are discussed in Nucor's regulatory filings with the
Securities and Exchange Commission, including those in Nucor's
fiscal 2016 Annual Report on Form 10-K, Item 1A. Risk
Factors. The forward-looking statements contained in this
news release speak only as of this date, and Nucor does not assume
any obligation to update them.
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SOURCE Nucor Corporation