Nucor’s David J Joseph Company Makes Two Acquisitions
08/06/2008 - Nucor subsidiary The David J. Joseph Co. signs a purchase agreement to acquire the assets of Missouri-based American Compressed Steel and substantially all the assets of Texas-based Victoria Recycling.
Nucor Corp.’s wholly owned subsidiary, The David J. Joseph Co. (DJJ) has signed a purchase agreement to acquire the assets of the American Compressed Steel operations of Secondary Resources, Inc. In addition, DJJ has completed the acquisition of substantially all the assets of Victoria, Texas-based Victoria Recycling.
Kansas City, Mo.-based American Compressed Steel was founded over 50 years ago. In addition to the Kansas City location, American Compressed also operates facilities in St. Joseph and Sedalia, Mo. The company employs 112 people and processes nearly 180,000 tons annually. The acquisition is expected to close within 30 days.
Founded in 2007, Victoria Recycling employs 13 people and processes over 24,000 tons annually.
"The addition of the American Compressed Steel and Victoria Recycling facilities demonstrates one more step toward helping Nucor achieve our long term goal of expanding scrap sourcing, using DJJ as a platform for that growth," said Daniel R. DiMicco, Nucor's Chairman, CEO and President. “Nucor is the largest purchaser of ferrous scrap in North America, with total scrap purchases of 22.8 million tons in 2007. Nucor and DJJ welcome the American Compressed Steel and Victoria Recycling management teams and employees to the Nucor family.”
Upon acquisition, American Compressed Steel will become part of DJJ's Advantage Metals Recycling group. Since early June, Victoria Recycling has been affiliated with Texas Port Recycling, another DJJ regional company.
Headquartered in Charlotte, N.C., Nucor makes more steel in America than any other company. Nucor and affiliates manufacture steel products, with operating facilities primarily in the U.S. and Canada. Products include carbon and alloy steel bars, beams, sheet and plate; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; light gauge steel framing; steel grating and expanded metal; and wire and wire mesh. Nucor, through DJJ, one of the leading scrap companies in the U.S., also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.
