September 08, 2008

Nucor completes acquisition of Magnatrax

Nucor Corporation announced that it has completed the acquisition of Magnatrax Corporation via the merger of Magnatrax with a wholly owned subsidiary of Nucor, for a cash purchase price of approximately USD 280 million.

Operating through its seven fabricating plants along with the associated engineering service centers and transportation facilities located in various parts of the US, Magnatrax is a leading provider of custom-engineered metal building systems for the growing North American non residential construction market. Via its American Buildings Company, Kirby Buildings Systems, Gulf States Manufacturers and CBC Steel Buildings subsidiaries and divisions, Magnatrax primarily sells, engineers and fabricates custom metal building systems, which include primary and secondary wall and roof panels, trim and accessories.

Mr Dan DiMicco chairman, president & CEO of Nucor said "Nucor has been in the metal building systems industry since 1987. The addition of the Magnatrax brands, facilities and, most importantly, people, significantly enhances Nucor's market position in one of our core downstream businesses."