June 8, 2004
Nucor Corporation has entered into an agreement to purchase substantially all of the steelmaking assets of Corus Tuscaloosa for a cash purchase price of approximately $90 million. The acquisition will be finalized after satisfactory resolution of regulatory approvals, tax matters, and transfer of appropriate permits and other contracts. Tuscaloosa is a coiled plate mill that manufactures pressure vessel steel coil, discrete plate and cut-to-length plate products.
Located in Tuscaloosa, Ala., the steel mill was built in 1985 and was the first U.S. steel mill to employ Steckel mill technology to produce high quality wide plate from coil. In 1996 a melting and casting facility expansion and mill modernization increased its annual capacity to approximately 700,000 tons.