North America's largest steel producer, Nucor Corporation, announced Wednesday that is has completed two acquisitions of scrap processing companies.
Nucor has now fully acquired all the assets of Metal Recycling Services Inc., a full-service processing facility, for an undisclosed amount. Metal Recycling Services will become part of Nucor's wholly owned subsidiary, The David J. Joseph Company (DJJ). The acquired company, based in Monroe, North Carolina, operates a full-service processing facility which employs 150 people and expects to process 220,000 net tons annually.
Nucor has also fully acquired Galamba Metals Group through DJJ for an undisclosed amount. The Missouri-based company, Galamba, has 16 full-service scrap processing facilities in Kansas, Missouri, and Arkansas and employs 385 people.
Nucor is the largest purchaser of ferrous scrap in North America. These two latest acquisitions will assist the company in boosting its scrap processing capabilities.