Nucor forms joint venture with Harris Steel Group

Nucor forms joint venture with Harris Steel Group

Recent industry news reports that, US steel producer Nucor Corp has recently signed an agreement with Harris Steel Group Inc to purchase 50% stake in its subsidiary Harris Steel. According to the deal, Nucor will pay approximately $21 million in cash, with an additional payment of $6 million over the next five years depending on the operating results of the joint venture company. With this joint venture, Nucor will be able to produce value added products. The deal is expected to be completed in a month.