Nucor Acquires American Compressed steel
by Ann DeWert | Aug 27, 2008 | News
Charlotte, N.C., Aug. 27/PRNewswire-FirstCall/ — Nucor Corporation (NYSE:NUE) announced today 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 is based in Kansas City, Missouri, and also operates facilities in St. Joseph and Sedalia, Missouri. American Compressed Steel employs 112 people and processes nearly 180,000 tons annually.
DJJ will operate the American Compressed Steel facilities under the Advantage Metals Recycling, LCC name. Nucor and DJJ welcome the American Compressed Steel management team and employees to the Nucor family.
This acquisition represents another step in Nucor's previously announced plan to utilize DJJ as a platform for cotinued growth in the scrap processing industry. 1,000,000 tons of scrap processing and 23 locations through four acquisitions. Our DJJ team is just getting started on our growth strategy through both acquisitions and greenfield operations.
Nucor is the largest purchaser of ferrous scrap in North America, with total scrap purchases of 22.8 million tons in 2007. Nucor and affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products produced include: carbon and alloy steel — in bars, beams, sheet and plate; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; light gauge steel framing; steel grating and expanded metal; and wire and wire mesh. Nucor, through DJJ, also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.