Nucor Announces Ocala Recycling Acquisition by The David J. Joseph Company

News provided by

Mar 01, 2010, 12:04 ET

CHARLOTTE, N.C., March 1 /PRNewswire-FirstCall/ -- Nucor Corporation (NYSE: NUE) announced today that its wholly owned subsidiary, The David J. Joseph Company ("DJJ"), has acquired the assets and business of Ocala Recycling LLC, currently a subsidiary of Blaze Metals LLC.

Ocala Recycling operates four Ocala Florida facilities, including one automobile shredder. Production at the four yards combined totals over 100,000 tons annually. With the addition of Ocala, DJJ operates a total of 15 automobile shredders throughout its facilities. Ocala Recycling was founded in 1988 and currently employs 90 people.

DJJ will operate the Ocala Recycling facilities as part of Trademark Metals Recycling LLC (TMR). Keith Grass, DJJ's President and CEO, commented, "It is with pleasure that we welcome Ocala Recycling employees to the Nucor family. We look forward to having them on our team."

This acquisition represents another step in Nucor's previously announced plan to utilize DJJ as a platform for continued growth in the scrap processing industry and, specifically, Trademark Metals Recycling's plan to expand in North/Central Florida. Since DJJ joined the Nucor Family in March of 2008, DJJ has added approximately 1.1 million tons of scrap processing capacity and 27 locations through five acquisitions and opened two greenfield yards.

Nucor is the largest purchaser of ferrous scrap in North America. Nucor and 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; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; light gauge steel framing; steel grating and expanded metal; and wire and wire mesh. Nucor, through DJJ, 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.

SOURCE Nucor Corporation