To expand business in America, Nucor Corporation will purchase Hannibal Industries, Inc. for $370 million. Hannibal is a leading provider of racking solutions to warehouses and serves the e-commerce, industrial, food storage and retail segments.
- Hannibal Industries has manufacturing facilities in Los Angeles and Houston, as well as three distribution centers.
- It utilizes sheet and bar steel, as well as steel decking, wire deck and fasteners to produce its racking solutions, providing potential supply chain efficiencies with other Nucor businesses.
The prominent deals and expansions by Nucor Corporation are featured below:
June 2021: To expand core business, Nucor Corporation has agreed to acquire Cornerstone Building Brands’ insulated metal panels (IMP) business for approximately $1 billion. The deal includes seven manufacturing facilities of IMP business located throughout North America.
May 2021: In order to serve better to automotive market, Nucor Corporation has approved a project to upgrade the company’s engineered bar mill in Nebraska. The company will invest USD 58 million for the modernization of the Nebraska facility.
March 2021: In order to boost manufacturing Nucor Corporation announced to build a new tube mill in Kentucky with investment of over USD 164 million. The new facility will built on the site of Nucor Steel Gallatin sheet mill in Kentucky. The expansion will create more than 70 new full-time jobs.
March 2021: For the development of renewable energy in Texas, Nucor Corporation has signed a 10-year Virtual Power Purchase Agreement (VPPA) with Ørsted Onshore North America, LLC. The VPPA signed for 100 megawatts from Ørsted’s Western Trail wind farm (WTW) in North Texas.
Oct 2020: Nucor Corporation announced that it entered into an asset purchase agreement to acquire the Precoat Metals Corporation’s paint line facility located in Armorel, Arkansas, the USA.
December 2019: Nucor Corporation had acquired TrueCore, LLC, an insulated metal panel manufacturing company with a facility in Laurens, South Carolina. TrueCore produces insulated metal panels serving the cold storage market, with future plans for additional commercial and industrial applications.
May 2019: Nucor Corporation announced a capital investment to add vacuum degassing to its engineered bar capabilities at its bar mill in Darlington, South Carolina. The expansion enabled the mill to produce engineered bar products meeting some of the most stringent quality specifications in the industry.
March 2019: Nucor Corporation announced a new state of the art steel plate mill in Brandenburg, Kentucky, located along the Ohio River southwest of Louisville. The company had invested approximately $1.35 billion to build the mill, which capable of producing 1.2 million tons per year of steel plate products.
Nucor Corporation, headquartered in Charlotte, North Carolina, the USA, is a leading steel manufacturer. The company manufactures steel and steel related products which include: carbon and alloy steel — in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel piling; steel joists and joist girders; steel deck; precision castings; steel fasteners; metal building systems; steel grating; and wire and wire mesh and others. The company has operating facilities in the U.S., Canada and Mexico. Nucor employs approximately 26,000 people across the globe.