Nucor Corp., Charlotte, N.C., will acquire Gerdau Long Steel’s Bright Bar assets located in Orrville, Ohio, and Cartersville, Ga., for an undisclosed amount. The facilities manufacture cold drawn steel bars for steel service centers and other markets across the U.S. and have a combined production capacity of 75,000 tons per year. The acquisition is expected to close in late November.
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; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; steel grating and expanded metal; 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.
“This acquisition advances Nucor’s strong competitive position in cold finished bar and increases our downstream participation in this important channel to market,” says John Ferriola, Chairman, CEO, and President of Nucor. “It is another step in the execution of our strategy to produce higher-margin, value-added products and will be highly complementary to our existing cold finish operations.”
