Nucor Acquires the Assets of Omega Joist

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Mar 01, 2017, 15:30 ET

CHARLOTTE, N.C., March 1, 2017 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced today that it has acquired the assets of Omega Joist, a subsidiary of Samuel, Son & Co., Limited. Omega Joist produces open web steel joists at its manufacturing facility located in Nisku, Alberta, and also has sales offices in western British Columbia and southern Alberta.

"We are excited to grow our joist and decking business in Canada with the acquisition of Omega Joist. This acquisition complements the Vulcraft facility we are currently constructing in Ancaster, Ontario," said Ray Napolitan, Executive Vice President, Fabricated Construction Products. "We are committed to growing our joist and deck business in Canada and this acquisition is another important step in our growth strategy."

Omega Joist has 43 employees, will operate as Vulcraft-Omega and will become part of Nucor's eleven other joist and deck production facilities. Nucor plans to add additional products to Vulcraft-Omega's product portfolio, including steel deck.

Vulcraft-Omega is Nucor's fifth facility in Alberta, joining three Harris Rebar facilities and one Fisher & Ludlow facility. Vulcraft-Omega teammates join Nucor's nearly 2000 teammates in Canada.

Nucor and its affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; steel grating; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.

Certain statements contained in this news release are "forward-looking statements" that involve risks and uncertainties. The words "believe," "expect," "project," "will," "should," "could" and similar expressions are intended to identify those forward-looking statements. Factors that might cause the Company's actual results to differ materially from those anticipated in forward-looking statements include, but are not limited to: (1) competitive pressure on sales and pricing, including competition from imports and substitute materials; (2) the sensitivity of the results of our operations to prevailing steel prices and the changes in the supply and cost of raw materials, including scrap steel; (3) market demand for steel products; and (4) energy costs and availability. These and other factors are discussed in Nucor's regulatory filings with the Securities and Exchange Commission, including those in Nucor's fiscal 2016 Annual Report on Form 10-K, Item 1A. Risk Factors. The forward-looking statements contained in this news release speak only as of this date, and Nucor does not assume any obligation to update them.

SOURCE Nucor Corporation