Nucor announced that it has agreed to acquire Gerdau Long Steel's Bright Bar assets located in Orrville, Ohio, and Cartersville, Georgia, for an undisclosed amount. The facilities manufacture cold drawn steel bars for steel service centers and other markets across the U.S. and have a combined production capacity of 75,000 t per year.  The acquisition is expected to close later this month.

"This acquisition advances Nucor's strong competitive position in cold finished bar and increases our downstream participation in this important channel to market," said John Ferriola, Chairman, CEO and President of Nucor. "It is another step in the execution of our strategy to produce higher-margin, value-added products and will be highly complementary to our existing cold finish operations." This acquisition improves the geographic coverage and expands the range of products in this market segment. 

Nucor Corporation, Charlotte, N.C.