Nucor Corp. announced on June 12 that its subsidiary Harris Steel Inc. will acquire Ambassador Steel Corp. for $185 million.
Ambassador, a fabricator of concrete reinforcing steel and related products, is one of the largest independent fabricators and distributors of rebar in the U.S. In 2007, the company shipped 422,000 tons of fabricated rebar and distributed another 228,000 tons of reinforcing steel.
"The acquisition of Ambassador continues Nucor's downstream growth initiatives and is an opportunity to enhance Nucor's national footprint in the rebar fabrication market," said Daniel R. DiMicco, CEO of Nucor.
Nucor and affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; light gauge steel framing; steel grating and expanded metal; and wire and wire mesh. Nucor is North America's largest recycler.
