Nucor To Buy Assets of Qualitech Steel

Joel Dippold

Nucor Corporation announced that it has entered into an agreement to purchase substantially all of the assets of Qualitech Steel SBQ LLC for $37 million. Nucor is in discussions with Mitsubishi Corporation about an equity position in the venture.
Dan Dimicco, Nucor’s vice chairman, president and CEO, said “The addition of the Qualitech assets will make Nucor a significant participant in the special bar quality steel market.” The Qualitech facility has an
annual capacity of 500,000 tons, and is located in Pittsboro, Ind.
Nucor is a large producer and recycler of steel, with facilities in ten states for the production of carbon and alloy steel in a variety of forms, as well as steel fasteners, metal building systems, and light gauge steel framing. Web: nucor.com �2002 FastenerNews.com