Nucor Corporation has successfully completed its acquisition of a majority ownership position in California Steel Industries, Inc. (CSI) by purchasing a 50 percent equity interest from a subsidiary of Vale S.A. for a cash purchase price of $400 million, adjusted for net debt and working capital at closing, as well as a one percent equity ownership stake from JFE Steel Corporation.
CSI is a flat-rolled steel converter with the capability to produce more than two million tons of finished steel and steel products annually. The company has five product lines, including hot rolled, pickled and oiled, cold rolled, galvanized and ERW pipe. Key end-use segments served by CSI include customers in the construction, service center and energy industries.
Published in the April 2022 Edition