Nucor Acquiring Connecticut Steel

Nucor Corp. has entered into an agreement to purchase substantially all of the assets of Connecticut Steel Corp. for about $43 million, subject to post-closing adjustments. The transaction is expected to be completed in early May of this year.

The mill, located in Wallingford, Ct., is a bar products mill with an annual production capacity of about 300,000 tons of wire rod and rebar and about 85,000 tons of wire mesh fabrication and structural mesh fabrication.

"The addition of Connecticut will allow our bar products group to increase its product offerings to existing customers and enhance our abilities to grow into new product offerings. Specifically, we will be able to offer wire mesh and structural mesh to our construction products customers while also addressing our customers' desires to enhance and expand our production of coiled rebar," said Mike Parrish, Nucor’s executive VP.