Steel Mills
Nucor Completes $3B Acquisition of C.H.I. Overhead Doors
Written by David Schollaert
June 24, 2022
Nucor Corp. completed its $3 billion acquisition of C.H.I. Overhead Doors from KKR & Co. Inc.
C.H.I. is a manufacturer of residential and commercial overhead and rolling doors, also known as garage doors. It serves US and Canadian markets.
The deal expands the Charlotte, N.C.-based steelmaker’s long-term strategy to expand its manufacturing model to provide end-market solutions to the construction and infrastructure markets, Nucor president and CEO Leon Topalian said.
“We are very excited to welcome our C.H.I. teammates to the Nucor team… a natural fit with our capabilities,” he said. “We look forward to working with their senior management team to execute the next phase of growth for C.H.I. and Nucor.”
“For all C.H.I. teammates and dealer partners, the opportunity to be part of Nucor going forward offers great potential for continued growth, supply-chain continuity and new business collaboration,” C.H.I. CEO Dave Bangert said.
C.H.I. has approximately 800 employees across manufacturing plants in Arthur, Ill., and Terre Haute, Ind., as well as in regional warehouses located in California, Colorado, New Hampshire, and New Jersey.
By David Schollaert, David@SteelMarketUpdate.com
David Schollaert
Read more from David SchollaertLatest in Steel Mills
Nucor shuttering Chicago tubular facility
Nucor is closing its Nucor Tubular Products Chicago facility and will be laying off 47 workers.
Algoma foresees narrow profit (or loss) in fiscal Q2’25
Canadian flat-rolled steelmaker Algoma predicts that it will be roughly breakeven on an adjusted EBITDA basis in the second quarter of its fiscal year. The Sault Ste. Marie, Ontario-based company expects adjusted EBIDTA in a range from a gain of $5 million CAD ($3.7 million USD) to a loss of $5 million CAD in fiscal Q2'25.
Arbitration board sides with USS over USW on Nippon deal
A board of arbitration has ruled in favor of U.S Steel vs. the United Steelworkers (USW) union in a dispute regarding Nippon Steel’s more than $14-billion proposed deal for the Pittsburgh-based steelmaker.
USS first to get nod to sell ‘ResponsibleSteel’ items at Big River
U.S. Steel is the first steelmaker in the world qualified to sell its products as “ResponsibleSteel Certified Steel” at its Big River Steel operation in Osceola, Ark.
USS: No production impact from Midwest Plant fire
A transformer caught fire at U.S. Steel’s Midwest Plant in Portage, Ind., on Sunday.