Service Centers
Nucor Finalizes Acquisition of Hannibal Industries
Written by Brett Linton
August 23, 2021
Nucor Corp. has acquired Hannibal Industries, Inc., a national provider of steel racking solutions headquartered in Los Angeles, Calif.
“We are excited to officially welcome our Hannibal teammates as part of the Nucor team,” said Giff Daughtridge, president of Sheet and Tubular Products. “Adding steel racking solutions to our product portfolio expands our ability to serve our customers in the fast-growing warehouse and distribution market. This acquisition complements our existing product capabilities in this area.”
Nucor purchased 100 percent of Hannibal Industries’ outstanding shares from its Employee Stock Ownership Plan for $370 million cash.
Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico.
Brett Linton
Read more from Brett LintonLatest in Service Centers
Worthington expands European presence with closing of Sitem deal
The Ohio-based steel processor is now the majority owner of Italy's Sitem Group, which has six manufacturing sites across Italy, Switzerland, Slovakia, and France.
Klöckner narrows Q1 loss, targets growth in North America and Europe
Germany’s Klöckner & Co. reported a narrower loss in the first quarter as the company targets becoming the “leading” service center and metal processing firm in North America and Europe by 2030.
Russel mulls buying US service centers despite Q1 profit dip
Russel Metals’ earnings slipped in the first quarter, but the company is still eyeing service center acquisitions in the US.
Olympic Steel earnings slump in ‘challenging’ first quarter
Olympic Steel’s earnings slid in the first quarter as the steel industry faced a “challenging” economic conditions.
Olympic taps Scott for board, Rippey steps down
Olympic Steel elected Peter J. Scott to its board of directors at its annual meeting on May 2. At the same time, long-time director Michael G. Rippey has retired from the board after 10 years.