Nucor announced Monday that it has agreed to acquire Gerdau Long Steel's Bright Bar assets located in Orrville, Ohio, and Cartersville, Georgia, for an undisclosed amount. The facilities manufacture cold drawn steel bars for steel service centers and other markets across the
US and have a combined production capacity of 75,000 tons per year. The acquisition is expected to close later this month.
"This acquisition advances Nucor's strong competitive position in cold finished bar and increases our downstream participation in this important channel to market," said John Ferriola, Chairman, CEO and President of Nucor. "It is another step in the execution of our strategy to produce higher-margin, value-added products and will be highly complementary to our existing cold finish operations."