Nucor Corp. subsidiary Harris Steel Inc. has agreed to purchase Ambassador Steel Corp. of Auburn, Ind., for $185 million. The transaction includes Ambassador affiliate Delta Erecting Inc. Ambassador is a fabricator and distributor of concrete reinforcing steel and related products. The company shipped 422,000 tons of fabricated rebar and distributed another 228,000 tons of reinforcing steel in 2007.
Nucor purchased more than 96% of Harris Steel in March 2007 for $1.02 billion. Harris makes concrete-reinforcing steel, provides design and installation of concrete post-tensioning systems and produces wire products.