According to Nucor, CSI will continue to operate as a joint venture, now between Nucor and JFE.
 
"Acquiring a majority ownership stake in California Steel Industries expands our geographic reach in sheet steel and gives us a strong presence on the West Coast," said Leon Topalian, president and chief executive of Nucor.
 
"This acquisition will grow our portfolio of value-added sheet products, provide opportunities for increased internal shipments and enable us to provide our downstream businesses in the region such as Verco and Hannibal Industries with sheet steel products. We look forward to continuing to grow with our partners at JFE."
 
Fontana, Calif.-based CSI has a production capacity of more than 2 million tons of finished steel and steel products annually across five product lines, including hot rolled, pickled and oiled, cold rolled, galvanized, and electric resistance–welded pipe.
 
This will be Nucor's second joint venture with JFE.