Nucor Purchasing Ohio Steel Plant

Nucor Corp. has entered into an agreement to purchase substantially all of the assets of Marion Steel Company for about $113 million.

The bar products mill is located in Marion, Ohio. It has an annual capacity of about 400,000 tons, is in close proximity to 60 percent of the steel consumption in the United States. The company's principal products are angles, flats, rebar, rounds and signposts.

"Marion represents an excellent addition and complement to Nucor's existing bar products group. We are looking forward to the addition of the Marion operations and team to our Nucor family," said Dan DiMicco, Nucor's vice chairman, president and CEO.

"We believe the combination of Marion into the Nucor bar mill group will enhance the level, reliability and quality of service to our combined customers," said Mike Parrish, executive vice president of Nucor. "We are excited to continue to expand our product offering and geographic reach through this acquisition."

The transaction is expected to be complete by the middle of June.