Nucor to Acquire Gallatin Steel
Nucor Corp. entered into an agreement to purchase all the equity of Gallatin Steel Company for approximately $770 million. The flat-rolled products mill, which is located on the Ohio River in Ghent, Ky., has an annual capacity of approximately 1.8 million tons. Adding Gallatin to Nucor’s four existing flat-rolled mills will increase the company’s total flat-rolled product annual capacity by 16% to approximately 13 million tons. The acquisition broadens Nucor’s footprint in the Midwest and enhances its current position serving flat-rolled customers in the pipe and tube segment.