Nucor Subsidiary Acquiring Steel Fabricator

Nucor Corp. announced that one of its wholly owned subsidiaries is acquiring Magnatrax Corp, which operates seven fabricating plants, along with engineering service centers and transportation facilities. Nucor will acquire the company for around $280 million, and the deal is expected to close by the third quarter of this year.

Magnatrax provides custom-engineered metal building systems for the North American non-residential construction market. The company, through its subsidiaries, sells, engineers and fabricates custom metal building systems, which include primary and secondary wall and roof panels, trim and accessories.

In announcing the acquisition, Dan DiMicco, chairman, president and CEO of Nucor, said, "Although Nucor is already a major national player in the metal buildings business, the addition of the Magnatrax brands, facilities and, most importantly, people, significantly enhances Nucor's market position."