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Steel News August 24, 2021 09:30:29 PM

Nucor Corp. Concluded Acquisition of Hannibal Industries

Paul Ploumis
ScrapMonster Author
Furthermore, the acquisition complements its existing product capabilities in this area, he added.

Nucor Corp. Concluded Acquisition of Hannibal Industries

SEATTLE (Scrap Monster): Charlotte, N.C.-based Nucor Corporation announced successful completion of acquisition of Hannibal Industries, Inc.- the leading provider of steel racking solutions. In the deal worth $370 million, the company purchased 100% of Hannibal’s outstanding shares from its Employee Stock Ownership Plan (ESOP).

Commenting on the milestone acquisition, Giff Daughtridge, President of Sheet and Tubular Products, Nucor noted that the company is highly excited to officially welcome Hannibal teammates as part of the Nucor team. The addition of steel racking solutions to its product portfolio will expand its ability to serve its customers in the fast-growing warehouse and distribution market. Furthermore, the acquisition complements its existing product capabilities in this area, he added.

ALSO READ: Nucor Concluded Acquisition of Insulated Metal Panels Business

Hannibal is the country’s leading provider of racking solutions to warehouses. It serves several segments including e-commerce, industrial, food storage and retail with racking solutions that make use of sheet and bar steel, as well as steel decking, wire deck and fasteners. The company also offers turn-key services such as installation, procurement and facility integration during the design and construction phase of warehouses.

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