Nucor Buys Hannibal Industries for $370 Million

Nucor has agreed to buy racking and hollow structural section (HSS) manufacturer Hannibal Industries Inc. for $370 million.

“Acquiring Hannibal Industries gives us a new growth platform and broadens our offering to the fast-growing warehouse channel,” Nucor President and CEO Leon Topalian said. “This acquisition reflects our strategy of expanding beyond our core steel businesses and establishes a new area for Nucor to pursue a market leadership position.”

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

Latest in Steel Mills

ArcelorMittal plans new Calvert mill without JV partner

Raw Steel Production Edges Up Again: AISI

USW Gives Cliffs Its Right To Bid on U.S. Steel

U.S. Steel Gives USW Some Assurances in Sales Process

Analysts Weigh in on Potential Sale of U.S. Steel