Nucor Buys North Star Steel Wire Rod Plant
Nucor Buys North Star Steel Wire Rod Plant
Jason Sandefur
Nucor Corp. bought the operating assets of North Star Steel�s wire rod and melting facility in Kingman, AZ, for $35 million. The deal did not include working capital and Nucor said it assumed no material liabilities for North Star. The plant�s rebar and wire rod-rolling capacity was recently shut down, and its 650,000-ton melting production has been idle since January 2000. Nucor CEO Dan DiMicco said North Star stopped production due to economic difficulty. He added that Nucor won�t restart operations until engineering, financial, operating and tax issues are settled.
Nucor is a large steel producer, recycler, and steel products manufacturer with facilities in 14 states. Web: nucor.com �2003 FastenerNews.com
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