Steel Mills
Nucor Receives FTC Approval for Gallatin Steel Acquistion
Written by Sandy Williams
October 2, 2014
Nucor Corporation has received approval from the Federal Trade Commission for the $770 million acquisition of Gallatin Steel. The Company expects to close the deal in approximately ten days.
“We are excited to be able to begin the process of integrating Gallatin Steel and our new teammates into the Nucor family,” said John Ferriola, Chairman, CEO and President of Nucor. “This acquisition is an important step in the execution of our company’s strategy for profitable growth by enhancing Nucor’s current position serving flat-rolled customers in the growing pipe and tube segment. It also further strengthens one of our competitive advantages – reliability for our customers.”
Gallatin Steel is strategically located on the Ohio River in Ghent, Kentucky. The flat-rolled products mill has an annual capacity of approximately 1,800,000 tons. Adding Gallatin to Nucor’s four existing flat-rolled mills will increase Nucor’s total flat-rolled product annual capacity by 16 percent to approximately 13 million tons.
Sandy Williams
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