Steel Company Nucor Corporation announced on Monday that it agreed to purchase Gallatin Steel Company for about $770 million from ArcelorMittal and Gerdau of Brazil, which each hold 50 percent stakes in Gallatin.
Gallatin, a flat rolled products mill on the Ohio River in Ghent, Ky. that began its operations in 1995, has the capacity to produce approximately 1.8 million tons of flat rolled steel a year. Nucor’s purchase of the mill will not only help strengthen its presence in the Midwest, but also increase the company’s total flat rolled product annual capacity by 16 percent to roughly 13 million tons, the company said.
