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VOL. 123 | NO. 28 | Monday, February 11, 2008

Nucor Buys Scrap Broker Owner for $1.44B

AP

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CHARLOTTE, N.C. (AP) - Steel producer Nucor Corp. said Friday it has agreed to acquire SHV North America Corp., which owns scrap broker and processor David J. Joseph Co., for about $1.44 billion.

Charlotte-based Nucor, which makes steel from recycled metal, said the deal will provide it with broader global sourcing of raw materials to make steel and allow it to process about four million tons of ferrous scrap each year.

Nucor, which has worked with David. J. Joseph since 1969, expects the acquisition to add to earnings in 2008.

David J. Joseph, based in Cincinnati, has 1,700 workers and posted 2007 revenue of $6.4 billion.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 106 418 11,538
MORTGAGES 135 521 14,424
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 220 913 24,947
BANKRUPTCIES 53 297 8,729
BUSINESS LICENSES 26 119 3,890
UTILITY CONNECTIONS 71 524 13,980
MARRIAGE LICENSES 13 83 3,114

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