Nucor to Purchase Assets of Corus Tuscaloosa

Nucor Corp. has entered into an agreement to purchase substantially all of the steelmaking assets of Corus Tuscaloosa approximately $90 million.

Tuscaloosa is a coiled plate mill that manufactures pressure vessel steel coil, discrete plate and cut-to-length plate products. Located in Tuscaloosa, AL, the steel mill was built in 1985 and was the first U.S. steel mill to employ Steckel mill technology to produce high quality wide plate from coil. In 1996 a melting and casting facility expansion and mill modernization increased its annual capacity to approximately 700,000 tons.

"We view Tuscaloosa as an excellent addition of niche products to offer to our commodity plate and coiled sheet customers. We are looking forward to the addition of the Tuscaloosa operations and their team to our Nucor family," said Dan DiMicco, Nucor's vice chairman, president and CEO. "This acquisition is expected to be immediately accretive."

"Our initial plans at our Hertford County, NC plate mill contemplated the future installation of coiled plate capability," said Joe Rutkowski, executive vice president of Nucor. "We are excited to now offer these products to our customers through this acquisition."