Nucor to Acquire Skyline Steel

The steel manufacturer Nucor Corp., headquartered in Charlotte, N.C., has signed a stock purchase agreement to acquire the membership interests of Skyline Steel LLC and its subsidiaries from ArcelorMittal for about $605 million. Upon completion of the deal, Skyline Steel will be a wholly owned subsidiary of Nucor and will maintain its headquarters in Parsippany, N.J.

"We are extremely excited to announce the acquisition of a company that has been a leading partner in growth in piling production for the last 20 years," says Daniel DiMicco, chairman and CEO of Nucor Corp. "With its considerable distribution network, excellent customer service and strong technical support, Skyline is well positioned to continue to grow in the piling and foundation products area in North America. The Skyline organization has been a distributor of Nucor's piling products for more than two decades. Now, more than ever, they will help drive our success from within the Nucor family.

Skyline distributes products to service applications such as marine construction, bridge and highway construction, heavy civil construction, storm protection, underground commercial parking and environment containment projects in the infrastructure and construction industries.

Skyline's flagship products include hot rolled and cold formed sheet piles, H-piles and pipe piling. The company's processing and fabricating capabilities include spiralweld pipe piling, rolled and welded pipe piling, cold formed sheet piling and threaded bar in Pennsylvania, Mississippi, Ohio, Illinois and Washington.