Steel Technologies to acquire Stripco
Steel processor Steel Technologies LLC, Louisville, Ky., has agreed to purchase Stripco LLC, Stripco Sales Co. LLC, and Stripco Express Inc., collectively called Stripco. The transaction has received governmental approval and is expected to close in early May.
Stripco Mishawaka, Ind., is a steel processor offering value-added processes including pickling, slitting, cold rolling, annealing, oscillating, and edging. The company processes and ships more than 100,000 tons annually.
The acquisition expands Steel Technologies’ North American platform to 25 facilities, including joint-venture operations. Steel Technologies is owned as a 50-50 joint venture between Nucor Corp. and Mitsui & Co. (U.S.A.) Inc., a wholly owned subsidiary of Mitsui & Co. Ltd., a diversified global investment and service enterprise based in Tokyo.