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Nucor Finalizes US$3 Billion Acquisition
06/24/2022 - Nucor Corp. has closed on its US$3 billion acquisition of C.H.I. Overhead Doors, completing a sale that expands its downstream steel products business.
"We are very excited to welcome our C.H.I. teammates to the Nucor team," said Nucor chief executive Leon Topalian. "They have built a tremendous business with strong growth prospects that is a natural fit with our capabilities. We look forward to working with their senior management team to execute the next phase of growth for C.H.I. and Nucor."
C.H.I. makes overhead doors for the residential and commercial markets, as well as rolling steel and rubber doors for commercial and industrial customers. It employs approximately 800 people across two manufacturing plants in Arthur, Illinois, and Terre Haute, Indiana, and regional warehouses located in California, Colorado, New Hampshire and New Jersey.
"For all C.H.I. teammates and dealer partners, the opportunity to be part of Nucor going forward offers great potential for continued growth, supply-chain continuity and new business collaboration," said Dave Bangert, who has served as CEO of C.H.I. since 2016 and will continue to lead the business. "This is an exciting day for everyone associated with C.H.I. as we aspire to be a vibrant member of the Nucor family living our collective culture."
C.H.I. makes overhead doors for the residential and commercial markets, as well as rolling steel and rubber doors for commercial and industrial customers. It employs approximately 800 people across two manufacturing plants in Arthur, Illinois, and Terre Haute, Indiana, and regional warehouses located in California, Colorado, New Hampshire and New Jersey.
"For all C.H.I. teammates and dealer partners, the opportunity to be part of Nucor going forward offers great potential for continued growth, supply-chain continuity and new business collaboration," said Dave Bangert, who has served as CEO of C.H.I. since 2016 and will continue to lead the business. "This is an exciting day for everyone associated with C.H.I. as we aspire to be a vibrant member of the Nucor family living our collective culture."
