Steel Dynamics Acquiring Vulcan Threaded Products
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Steel Dynamics Acquiring Vulcan Threaded Products
Steel Dynamics Inc. agreed to acquire 100% of one of its customers – Vulcan Threaded Products Inc. – for $126 million.
Founded in 1978, Alabama-based Vulcan manufactures threaded rod products, cold drawn and heat treated bar.
Vulcan shipped approximately 89,000 tons of threaded rod, cold drawn and heat treat bar during the past year ended March 31, 2016.
Historically Vulcan has purchased nearly 20,000 tons of steel from Steel Dynamic’s bar division. Based on capabilities, Steel Dynamics CEO Mark Millett believes this internal volume could grow to 30,000 and 50,000 tons, or nearly 10% of total 2015 shipments.
“Vulcan has been a valued customer of our Engineered Bar Products Division for over a decade. I congratulate Bill and Kent Upton on the creation of a tremendous company and team. We are looking forward to welcoming the employees and customers of Vulcan into the Steel Dynamics family. We are excited to add the quality of Vulcan’s brand and products to our portfolio,” stated Steel Dynamics CEO Mark Millett.
Vulcan Steel Products began as Vulcan Threaded Rod Company with Bill Upton, Bill Jenkins and Kent Upton as owners. Initially Vulcan marketed products primarily to smaller distributors who had been experiencing back orders of up to six months.
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