Steel Mills
Nucor Completes $3B Acquisition of C.H.I. Overhead Doors
Written by David Schollaert
June 24, 2022
Nucor Corp. completed its $3 billion acquisition of C.H.I. Overhead Doors from KKR & Co. Inc.
C.H.I. is a manufacturer of residential and commercial overhead and rolling doors, also known as garage doors. It serves US and Canadian markets.
The deal expands the Charlotte, N.C.-based steelmaker’s long-term strategy to expand its manufacturing model to provide end-market solutions to the construction and infrastructure markets, Nucor president and CEO Leon Topalian said.
“We are very excited to welcome our C.H.I. teammates to the Nucor team… a natural fit with our capabilities,” he said. “We look forward to working with their senior management team to execute the next phase of growth for C.H.I. and Nucor.”
“For all C.H.I. teammates and dealer partners, the opportunity to be part of Nucor going forward offers great potential for continued growth, supply-chain continuity and new business collaboration,” C.H.I. CEO Dave Bangert said.
C.H.I. has approximately 800 employees across manufacturing plants in Arthur, Ill., and Terre Haute, Ind., as well as in regional warehouses located in California, Colorado, New Hampshire, and New Jersey.
By David Schollaert, David@SteelMarketUpdate.com
David Schollaert
Read more from David SchollaertLatest in Steel Mills
Cliffs unveils new hydrogen-powered stainless line in Ohio
CEO Lourenco Goncalves, flanked by state leaders and union reps, touted the project as proof that US manufacturing is not only alive, but also advancing.
Cliffs idles Steelton, Riverdale, and Conshohocken operations
Cliffs has idled facilities in Riverdale, Ill., and Conshohocken and Steelton, Pa.
Radius loss narrows, volumes climb in ‘healthy’ West Coast market
Stronger steel demand in the Western US, rising scrap flows, and improved rolling mill utilization drove sequential gains for Portland, Ore.-based Radius Recycling.
AISI: Raw steel production backs off multi-year high
US raw steel output edged lower last week after hitting a multi-year high in mid-June, according to the American Iron and Steel Institute (AISI).
Private equity firm Atlas Holdings to acquire Evraz North America
Atlas Holdings said it has signed a definitive agreement to acquire Evraz North America (Evraz NA). The Greenwich, Conn.-based private equity firm said it expects the deal for the Chicago-based steelmaker to close in the second quarter of 2025 subject to various closing condition.