Nucor to purchase Verco Mfg. Co. assets
Nucor Corp. announced today that it has entered into an agreement to purchase substantially all of the assets of Verco Manufacturing Co. for a cash purchase price of approximately $180 million, subject to post-closing adjustments. Completion of the acquisition will occur after satisfactory resolution of regulatory approvals and other closing conditions. The transaction is expected to close during the fourth quarter of 2006 and is expected to be immediately accretive to earnings.
Verco produces steel floor and roof decking at three locations in the western U. S.: Phoenix, Ariz.; Fontana, Calif.; and Antioch, Calif.