Nucor Corp to buy Marion Steel assets

Nucor Corp to buy Marion Steel assets

Nucor Corp announced today that it inked a deal to buy all the assets of Ohio-based Marion Steel Company (Marion) for $113 million. The acquisition, expected to be completed by mid-June 2005, is subject to the approval of regulatory authorities and Nucor's Board of Directors. Marion has an annual production capacity of 400'000 tons. Its main products include rebar, angles, flats, rounds and signposts. "We believe the combination of Marion into the Nucor bar mill group will enhance the level, reliability and quality of service to our combined customers," said Mike Parrish, Executive Vice President of Nucor. "We are excited to continue to expand our product offering and geographic reach through this acquisition."