Nucor Completes Acquisition of Magnatrax
08/28/2007 - Nucor completes its acquisition of Magnatrax for a cash purchase price of approximately $280 million.
Nucor Corp. has completed its acquisition of Magnatrax Corp. for a cash purchase price of approximately $280 million. Nucor accomplished the acquisition by merging Magnatrax with a wholly owned subsidiary.
Magnatrax, a leading provider of custom-engineered metal building systems for the growing North American non-residential construction market, sells, engineers and fabricates custom metal building systems—including primary and secondary wall and roof panels, trim and accessories.
Magnatrax subsidiaries and divisions include American Buildings Co., Kirby Buildings Systems, Gulf States Manufacturers, and CBC Steel Buildings. The company also operates seven fabricating plants plus associated engineering service centers and transportation facilities located in various parts of the U.S.
"Nucor has been in the metal building systems industry since 1987," said Dan DiMicco, Nucor's Chairman, President and CEO. "The addition of the Magnatrax brands, facilities and, most importantly, people, significantly enhances Nucor's market position in one of our core downstream businesses."
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 is North America's largest recycler.
