Steel Company Nucor Corporation announced on Monday that it agreed to purchase Gallatin Steel Company for about $770 million from ArcelorMittal and Gerdau of Brazil, which each hold 50 percent stakes in Gallatin.
Gallatin, a flat rolled products mill on the Ohio River in Ghent, Ky. that began its operations in 1995, has the capacity to produce approximately 1.8 million tons of flat rolled steel a year. Nucor’s purchase of the mill will not only help strengthen its presence in the Midwest, but also increase the company’s total flat rolled product annual capacity by 16 percent to roughly 13 million tons, the company said.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
