For a price of $180 million, Nucor Corp. will purchase substantially all of the assets of Verco Manufacturing Company. Verco produces steel floor and roof decking. Nucor's Vulcraft Group, one of the largest U.S. manufacturers of steel deck, will have annual deck capacity of over 500,000 tons with the addition of the Verco facilities.
"The acquisition of Verco is an extremely attractive growth opportunity to enhance Nucor's market leadership position in steel deck and to expand our highly profitable vertical integration business model. Nucor's downstream value-added businesses have consistently generated very attractive returns on assets through the economic cycle," said Daniel R. DiMicco, Nucor's CEO.
With three locations in the western U.S.: Phoenix, Arizona; Fontana, California; and Antioch, California, the acquisition will expand Nucor's footprint. "This acquisition will position Nucor with a national reach to provide U.S. nonresidential construction markets with a complete package of joist and deck products," added Hamilton Lott, Jr., executive vice president, Nucor.
Nucor and its affiliates produce carbon and alloy steel -- in bars, beams, sheet and plate; steel joists and joist girders; steel deck; cold finished steel; steel fasteners; metal building systems; and light gauge steel framing. They are also the largest recycler in the U.S.