In a statement, Nucor said the Pennsylvania-based business, Summit Utility Structures, and a related business, Sovereign Steel Manufacturing, will form the basis for a new business unit, Nucor Towers & Structures. Nucor said that although the businesses are focused on the Northeast, Nucor’s plan is to establish a nationwide footprint.

"These acquisitions continue to position Nucor as the leader in steel and downstream steel products as part of our strategy to Grow the Core, Expand Beyond and Live Our Culture. These businesses fit well into the Expand Beyond part of our strategy to acquire companies who have a direct connection to our industry, offer significant growth opportunities and enhance Nucor's position as the leading manufacturing company in the metals industry," said Nucor president and chief executive Leon Topalian.

"We intend to grow these businesses to become the preferred solutions provider for utility transmission towers, substations, telecommunication towers and highway signage structures."