Nucor Acquiring DJJ

Nucor Corp. has signed a purchase agreement to acquire the stock of SHV North America Corporation, which owns 100 percent of The David J. Joseph Company, its related affiliates and real estate, for around $1.44 billion. The David J. Joseph Company will be a wholly owned subsidiary of Nucor Corporation and will maintain its headquarters in Cincinnati.

"We are extremely excited to announce the acquisition of a company that has been our partner in growth for the last 38 years," said Daniel DiMicco, chairman, CEO and president of Nucor. "With its considerable scale and excellent management team, DJJ offers Nucor a large platform for continued growth in this segment of the industry. We are very excited that the DJJ leadership team, led by Keith Grass, will continue in their current roles. The 1,700 strong and highly successful members of the DJJ organization have always been part of the Nucor Team but now, more than ever, they will help drive our success from within the Nucor Family."

The David J. Joseph Company is one of the leading U.S. scrap companies. The acquisition of DJJ will bring a variety of benefits to Nucor. In addition to DJJ's scrap operations and expertise, its extensive brokerage operations provide Nucor with global sourcing of many key steelmaking raw materials.

DJJ's rail services and logistics capabilities will allow Nucor to leverage the largest private railcar fleet in North America dedicated to scrap transportation. DJJ’s industrial scrap programs will provide improved channels of raw materials to Nucor.

The addition of DJJ to Nucor's current scrap processing capabilities will allow the company to process about four million tons of ferrous scrap annually.

DJJ, founded in 1885, has been the broker of ferrous scrap to Nucor since 1969. Currently the company has five main businesses - Brokerage Services, Scrap Processing, Mill and Industrial Services, Rail Services, and Self Service Auto Parts. Last year, the company brokered more than 20 million tons of ferrous scrap and more than 500 million pounds of non-ferrous materials. They will process over 3.5 million tons of ferrous scrap this year, using 12 shredders in 35 yards.

DJJ also owns more than 2,000 scrap-related railcars and provides complete fleet management and logistics services to third parties.