Harris Steel to acquire assets of Harvard Steel assets

Harris Steel to acquire assets of Harvard Steel assets

According to recent news in the market, Canadian steel producer Harris Steel has signed a deal worth $4.5 million to buy assets of Seattle-based Harvard Steel. The acquisition is expected to be completed by January 24, 2005. Harris Steel officials announced that they will all the employees at the mill after the completion of the takeover. As previously reported by SteelOrbis, Harris Steel was formed as a 50/50 joint venture company between Harris Steel Group Inc of Toronto and Nucor Corp at the beginning of the this year. With the takeover, Harris Steel will expand its reinforcing bar business.