June 21, 2012 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) is pleased to announce that it has completed the acquisition of the membership interest of Skyline Steel LLC and its subsidiaries for the purchase price of approximately
$605 million. Skyline Steel LLC is now a wholly owned subsidiary of Nucor Corporation and will maintain its headquarters in
Parsippany, New Jersey. Nucor expects the acquisition to be accretive in the next full fiscal year of ownership.
"We are pleased to announce the successful acquisition of one of the leading piling distribution and production companies in North America," said Dan DiMicco, Nucor's Chairman and CEO. "Skyline has been a leading partner in growth in piling production for the last 20 years, and we are excited to welcome them to the Nucor family."
Skyline Steel LLC is a premier steel foundation distributor serving the U.S.,
Mexico and the
Caribbean. Skyline distributes high quality products to service the most challenging applications including marine construction, bridge and highway construction, heavy civil construction, storm protection, underground commercial parking, and environment containment projects in the infrastructure and construction industries.
Skyline has 21 sales offices and a robust infrastructure comprised of processing and fabrication facilities, dozens of stocking locations, an efficiently-coordinated supply chain, and exclusive engineering support. Skyline's flagship products include hot rolled and cold formed sheet piles, H-piles and pipe piling. The company's processing and fabricating capabilities include spiralweld pipe piling, rolled and welded pipe piling, cold formed sheet piling and threaded bar in Pennsylvania, Mississippi, Ohio, Illinois and Washington. Skyline will also retain exclusive rights to distribute ArcelorMittal's piling and foundation products, including sheet piling, in North America and the Caribbean.