Nucor Corp. signed a Stock Purchase Agreement to acquire the membership interests of Skyline Steel LLC and its subsidiaries from ArcelorMittal for approximately $605 million. Skyline Steel will be a wholly owned subsidiary of Nucor and will maintain its headquarters in Parsippany, N.J. Skyline Steel is a premier steel foundation distributor serving the U.S., Canada, Mexico and the Caribbean. Skyline, which has 21 sales offices, distributes high-quality products to service applications including marine construction, bridge and highway construction, heavy civil construction, storm protection, underground commercial parking, and environment containment projects.
Skyline's flagship products include hot-rolled and cold-formed
sheet piles, H-piles and pipe piling. The company's processing and fabricating
capabilities include spiralweld pipe piling, rolled and welded pipe piling,
cold-formed sheet piling and threaded bar in Pennsylvania, Mississippi, Ohio,
Illinois and Washington.