Steel Technologies to Acquire NuPro Steel
02/17/2011 - Steel Technologies LLC has signed a Memorandum of Understanding to acquire the business and certain assets of Crawfordsville, Ind.-based NuPro Steel, LLC.
Steel Technologies LLC has signed a Memorandum of Understanding to acquire the business and certain assets of NuPro Steel, LLC, a wholly owned subsidiary of Nucor Corp.
NuPro, a flat-rolled steel processor, is located adjacent to Nucor’s Crawfordsville, Ind., facility. The 230,000 square-foot operation will expand Steel Technologies’ North American platform to 24 facilities, including joint-venture operations, located throughout the U.S., Canada and Mexico.
“This facility is well equipped with a strong operating team and it strategically expands our Midwest footprint,” said Michael J. Carroll, President and CEO of Steel Technologies. “Currently focused on toll processing, we plan to broaden NuPro’s processing capabilities and end market focus.”
Steel Technologies expects to complete the NuPro acquisition in April of this year, subject to the execution of a definitive purchase agreement.
Headquartered in Louisville, Ky., Steel Technologies is a leading North American steel processor, leveraging its broad geographic network of operations to deliver value-added products and services. Steel Technologies processes flat-rolled steel to specific thickness, width, temper, finish and shape requirements for a wide range of industries. Steel Technologies is owned as a 50-50 joint venture between Nucor Corp. and Mitsui & Co. (U.S.A.), Inc.
