Nucor Completes Acquisition of Hannibal Industries
US steel maker Nucor Corporation has completed its acquisition of Hannibal Industries Inc, a leading national provider of steel racking solutions, for a cash purchase price of USD 370 million. Nucor purchased 100 percent of Hannibal Industries' outstanding shares from its Employee Stock Ownership Plan. Nucor President of Sheet and Tubular Products Giff Daughtridge said "We are excited to officially welcome our Hannibal teammates as part of the Nucor team. Adding steel racking solutions to our product portfolio expands our ability to serve our customers in the fast-growing warehouse and distribution market. This acquisition complements our existing product capabilities in this area."
Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico.