Nucor buys Gallatin Steel

Steel company Nucor, Charlotte, N.C., has purchased Gallatin Steel Co., expanding its footprint in the Midwest. Nucor purchased ArcelorMittal’s and Gerdau's respective 50 percent stakes in Gallatin Steel. Gallatin's flat-rolled products mill in Ghent, Ky., has an annual capacity of about 1.8 million tons.

Nucor Chairman, President, and CEO John Ferriola said that the acquisition will help the company's current position serving flat-rolled customers in the pipe and tube segment. The acquisition of Gallatin Steel's mill gives Nucor five flat-rolled mills in total and boosts its total flat-rolled product annual capacity by 16 percent to about 13 million tons.