Nucor Acquires Scrap Broker

Feb. 12, 2008
Steel producer continues industrywide consolidation trend.

In an effort to strengthen its global sourcing clout, Nucor Corp. has purchased scrap broker David J. Joseph Co. from its parent company SHV North America Corp. for $1.33 billion.

Nucor, which announced the deal on Feb. 8, expects the acquisition will provide the company with access to global sourcing resources such as rail services and logistics capabilities and industrial scrap programs, providing improved raw materials channels.

Nucor has stated in the past its desire to produce 6 million to 7 million tons of high-quality scrap substitutes annually. The purchase of David J. Joseph is part of the companys raw materials strategy.

The addition will increase Nucors scrap processing capabilities to approximately 4 million tons of ferrous scrap annually. David J. Joseph, which employs 1,700 workers, will maintain its headquarters in Cincinnati.

Popular Sponsored Recommendations

Are You Positioned To Tackle Supply Chain Risk?

Sept. 20, 2023
Supply chain disruption is here to stay, but you can keep ahead of potential issues — and identify new opportunities — by regularly assessing your suppliers. Download our supplier...

Customer-centric Discovery Experiences Reduce Sales and Content Management Costs by 15%

Sept. 11, 2023
In this article, research and analysis is provided on the results of developing product discovery experiences in the B2B sales process. In addition, it provides details on how...

7 Crucial Steps to Improve Your OT Security

Oct. 23, 2023
Enhance OT security in manufacturing and production. Uncover the crucial steps to safeguard your operational technology. Protect against evolving threats and bridge the IT-OT ...

Powering Up Productivity: The Transformative Power of AP Automation in Manufacturing

Oct. 25, 2023
Discover how AP Automation is revolutionizing the manufacturing industry, driving efficiency, cost savings, and security. In today's world, automation is the key to staying competitive...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!