CHICAGO Nucor Corp. has sold its Nucor Wire Products Pennsylvania Inc. facility in New Salem, Pa., to an affiliate of Wire Mesh Corp.
"We continually evaluate our business for long-term strategic fit and earnings potential. After careful evaluation of the wire mesh market and Nucors role in that market, we made the decision to sell these particular assets," Nucor executive vice president of bar products James Darsey said in a statement.
The Charlotte, N.C.-based steelmaker did not disclose the price.
Nucor said Friday that it continues to make wire and wire mesh products from facilities in Utah and Connecticut, as well as from its Laurel-LEC Steel operations in Canada.
Nucor had acquired the facility in October 2007 after purchasing the assets of wire mesh manufacturer Nelson Steel Inc. for about $54 million (amm.com, Sept. 13, 2007).
Also in 2007, Nucor acquired Toronto-based reinforcing bar fabricator Harris Steel Group Inc. for about $1 billion. Shortly after that deal was announced, Harris closed on its own $17-million acquisition of wire and mesh product manufacturer LEC Steel Inc., Brantford, Ontario, which makes construction accessory products.
Nucor said at the time that deals for such companies as Nelson Steel advanced its downstream expansion plans and complemented its existing mesh operations at Nucor Steel Connecticut and Harris Steel Group (amm.com, Sept. 13, 2007).