November 3, 2006
Nucor Corp. has announced that its wholly owned subsidiary, Verco Decking Inc., has completed the purchase of substantially all of the assets of Verco Manufacturing Co. for a cash purchase price of approximately $180 million, subject to post-closing adjustments.
Verco produces steel floor and roof decking at three locations in the western U.S.: Phoenix, Ariz.; Fontana, Calif.; and Antioch, Calif. Nucor's Vulcraft Group is the largest U.S. manufacturer of steel deck, the company says. With the addition of the Verco facilities, Nucor's total annual deck capacity will exceed 500,000 tons.
"Verco is an excellent addition and complement to our existing Vulcraft group. We are looking forward to expanding our reach to the western U.S. deck market," said Daniel R. DiMicco, Nucor's Chairman, President and Chief Executive Officer. Hamilton Lott, Jr., Executive Vice President, stated, "We are proud to have the Verco team members, who have an impressive 40-year record of success, as part of the Nucor family."