Nucor Corporation announced Wednesday that its wholly owned subsidiary, The David J. Joseph Company (DJJ), has completed the acquisition of substantially all the assets of the American Compressed Steel scrap processing operations of Secondary Resources Inc.
DJJ will operate the American Compressed Steel facilities, all three of which are located in Missouri, under the name Advantage Metals Recycling LLC. American Compressed Steel currently processes nearly 180,000 nt of steel annually.
Nucor, the largest purchaser of ferrous scrap in North America, said in its press release on the acquisition that it represents another step in the company's previously announced plan to utilize DJJ as a platform for continued growth in the scrap processing industry.
"Since DJJ joined the Nucor Family in March 2008, we have added approximately 1,000,000 tons of scrap processing and 23 locations through four acquisitions," the release read. "Our DJJ team is just getting started on our growth strategy through both acquisitions and greenfield operations."
In addition to its steelmaking activities, Nucor, through DJJ, brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferroalloys; and processes ferrous and nonferrous scrap.