Nucor JV Inks Acquisition Deal

Nufab Rebar LLC, Nucor Corp.'s rebar fabrication joint venture with Ambassador Steel Corp., has acquired Lulich Steel LLC. Lulich Steel is a rebar fabricator serving reinforcing steel construction markets in Louisiana, Mississippi and the panhandle region of Florida.

Nufab Rebar LLC was formed this January as a rebar fabrication joint venture between Nucor and Ambassador Steel. Nucor is the largest producer of rebar in the United States. Ambassador Steel is the largest independent rebar fabricator in the United States, with fabricating facilities in Illinois, Indiana, Iowa, Michigan, Minnesota, Missouri, Ohio and Wisconsin. Nufab Rebar will grow through both the acquisition of existing assets and greenfield projects.

"We are pleased to announce the first step by our Nufab Rebar joint venture in building a rebar fabrication presence in the central and southern regions of the United States," said Dan DiMicco, Nucor's vice chairman, president and CEO. "Nufab Rebar's growth plan provides Nucor the opportunity to further grow our downstream integration from our bar mills into a value-added process. We are excited to be partners with a leader in the rebar fabrication industry -- Ambassador has built a very attractive business model driven by its strengths in engineering, manufacturing and marketing. Our partnership with Ambassador complements the work of our other rebar fabrication joint venture with Harris Steel Group in the western and northeastern regions of the United States."