Nucor Acquires North Star Arizona Assets
March 25, 2003
Nucor Steel Kingman, LLC, a subsidiary of Nucor Corp., Charlotte, N.C., has completed the purchase of substantially all of the operating assets of the Kingman, Arizona steel facility of North Star Steel for $35,000,000. The purchase price did not include working capital, and Nucor assumed no material liabilities of the North Star operation. The Kingman facility has an annual melting capacity of 650,000 tons; however, the melt shop has not operated since January 2000. The rebar and wire rod rolling facility was idled by North Star earlier this month. Rolling capacity exceeds 500,000 tons annually.