Nucor Corp. has entered into an agreement with Worthington Industries, Inc. for the purchase of certain assets of their cold rolling mill in Decatur, Ala., for a cash purchase price of approximately $82 million.

The assets purchased include all of the buildings, the pickle line, four-stand tandem cold mill, temper mill and annealing furnaces of the Decatur facility adjacent to the current Nucor Steel Decatur, LLC steel plant. The purchase does not include the slitting and cut-to-length equipment, which Worthington will continue to operate. Worthington Industries constructed the plant and started production in 1998.

"The addition of the pickle line, cold mill and annealing equipment enhances our ability to service the value-added sheet market from our Nucor Steel Decatur, LLC sheet mill similar to the capability of our other sheet mills in Indiana, Arkansas and South Carolina," said Dan DiMicco, Nucor's Vice Chairman, President and CEO.

"We look forward to integrating these assets into our company and the Sheet Group in particular," said John Ferriola, Executive Vice President of Nucor's Sheet Group. "We have a strong and valued relationship with Worthington and we believe this transaction will serve to strengthen that relationship. These additional assets improve our ability to supply Worthington as well as our other valued customers with a full complement of hot roll, pickled, cold rolled full hard and cold rolled fully processed coils. We are presently studying the feasibility of additional finishing capabilities at this facility to better meet the value-added product needs of our customers."

Closing of the transaction is expected to occur within the next 60 days after receiving the necessary approvals from government agencies.

Nucor and affiliates manufacture steel products, with operating facilities in fourteen states. Products include carbon and alloy steel bars, beams, sheet and plate; steel joists and joist girders; steel deck; cold finished steel; steel fasteners; metal building systems; and light gauge steel framing.