Nucor buys Corus Tuscaloosa

CHARLOTTE, N.C., June 8 (UPI) -- Nucor Corp. of North Carolina said Tuesday it acquired the steelmaking assets of Corus Tuscaloosa of Alabama for about $90 million.

Nucor said finalization of the all cash deal will occur after satisfactory resolution of regulatory approvals, tax matters and transfer of appropriate permits and other contracts.

Tuscaloosa is a coiled plate mill that manufactures pressure vessel steel coil, discrete plate and cut-to-length plate products. The steel mill was built in 1985 and was the first American steel mill to employ technology to produce high quality wide plate from coil. In 1996 a melting and casting facility expansion and mill modernization increased its annual capacity to approximately 700,000 tons.