Nucor Corp. has entered into an agreement to purchase substantially all of the assets of Fort Howard Steel, Inc.'s Oak Creek, Wis., operations.

With approximately 140,000 tons of annual capacity in size ranges up to six-inch rounds, Fort Howard is one of the leading producers of cold finished bar product in North America. The addition of this business to Nucor's existing operations creates a market leadership position for Nucor in the area of cold finished bar products.

"Fort Howard's operations represent an outstanding complement to the existing service and product offerings we have today. Their proximity to the Midwestern markets, size and grade offerings, and tradition of delivering high quality customer service will expand and build upon our existing cold finish business' ability to deliver superior service and products to our customers," said Dan DiMicco, Nucor's Vice Chairman, President and CEO. "We are looking forward to the addition of Fort Howard's Oak Creek operations and team to our Nucor family."

The acquisition will be finalized after satisfactory resolution of regulatory approvals, transfer of appropriate permits and other contracts, and other closing conditions. The transaction, which is expected to close in mid February of 2005, is expected to be immediately accretive to earnings.

Nucor is one of the largest steel producers in the United States and is the nation's largest recycler. Nucor and affiliates are manufacturers of 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.