Nucor Acquires American Compressed Steel
08/28/2008 - Nucor’s David J. Joseph subsidiary completes its acquisition of the American Compressed Steel operations of Secondary Resources, Inc.
Nucor Corp.’s wholly owned subsidiary, The David J. Joseph Co., has completed the acquisition of substantially all the assets of the American Compressed Steel operations of Secondary Resources, Inc.
Based in Kansas City, Mo., American Compressed Steel operates facilities there as well as in St. Joseph and Sedalia, Mo. The David J. Joseph Co. (DJJ) will operate the facilities under the Advantage Metals Recycling, LLC name.
Nucor and DJJ welcomed the American Compressed Steel management team and employees to the Nucor family, noting that the acquisition represents another step in Nucor's plan to utilize DJJ as a platform for continued growth in the scrap processing industry.
Since DJJ joined the Nucor Family in March 2008, the company has added approximately 1,000,000 tons of scrap processing and 23 locations through four acquisitions. According to Nucor, the DJJ team is just getting started on the company’s growth strategy through both acquisitions and greenfield operations.
Nucor is the largest purchaser of ferrous scrap in North America, with total scrap purchases of 22.8 million tons in 2007. Headquartered in Charlotte, N.C., 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 The David J. Joseph Co., 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.
American Compressed Steel employs 112 people and processes nearly 180,000 tons annually.
