Louisville, Kentucky-based steel processor Steel Technologies LLC announced Wednesday that it has signed a Memorandum of Understanding to acquire Nucor Steel subsidiary NuPro Steel LLC, a flat-rolled steel processor in Crawfordsville, Indiana. Subject to the execution of a definitive purchase agreement, Steel Technologies expects to complete the acquisition in April of this year.
"This facility is well equipped with a strong operating team and it strategically expands our Midwest footprint," said Michael J. Carroll, President and CEO of Steel Technologies. "Currently focused on toll processing, we plan to broaden NuPro's processing capabilities and end market focus."