Steel Mills
September 15, 2014
Consolidation Continues as Nucor to Acquire Gallatin Steel
Written by John Packard
Nucor announced this morning that they have reached an agreement to purchase all of the equity in Gallatin Steel for $770 million. Gallatin Steel is located in Ghent, Kentucky and has the capacity to produce approximately 1.8 million tons of hot rolled steel. Gallatin is an electric arc furnace (EAF) mini mill and complements Nucor’s other production facilities. The combination of the Gallatin tons with those from their existing plants increases Nucor’s annual capacity to approximately 13 million tons.
Here is a portion of the press release from this morning (Monday, September 15, 2014):
