Nucor Corporation Purchased Republic Conduit from Luxembourg-Based Tenaris S.A
Date : Sep 13, 2017 Author : Nikhil Kaitwade Category : Automation
Nucor Corporation has recently declared a consent to procure Republic Conduit, a company owned by Luxembourg based Tenaris S.A which manufactures competitive pipes.
Republic Conduit is a company producing steel electrical channels and is based in the developed region of North America. Republic Conduit's yearly shipment volume during this period midpoints more than 140,000 tons.
While speaking about this acquisition, Nucor Corporation’s President, Chairman, and CEO stated that the acquisition gives his company another line to offer several value-added products for the company’s clients and help in the company’s present development by showing the strong presence in the tube and pipe market. According to a highly placed official of Nucor Corporation, this new move will be beneficial for the company’s profit strategy in the long run.
Republic Conduit manufactures electrogalvanized Electrical Metallic Tubing (EMT) as well as Intermediate Metal Conduit (IMC), and additionally Electrical Rigid Metal Conduit (ERMC) (hot-dip galvanized). Republic Conduit's items are fundamentally used to route and secure electrical wiring across different nonresidential structures, for example, schools, offices, hospitals lodgings, stadiums, holy places and shopping centers.
The organization likewise serves the industrial and power segments. Republic Conduit has offered employment to around 300 individuals in two nonunion based offices that are situated in Kentucky, Cedar Springs, Georgia and Louisville. Once the obtaining is finished, Nucor is likely to be a potential market pioneer in the manufacturing of conduits made of steel.
Nucor and the associated company partners are makers of steel items, with working offices essentially in America as well as in Canada. The company manufactures products such as carbon and combination steel that are made available in bars, pillars, plate and sheet; empty basic segment tubing; steel heaping; joist supports and steel joists; steel deck; manufactured cement fortifying steel; cool completed steel; steel clasp; metal building frameworks; steel grinding; as well as wire mesh and wire.
Nucor, in association with The David J. Joseph Company, likewise markets nonferrous and ferrous metals, HBI/DRI and pig iron; and also supplies ferro based alloys; and also processes ferrous as well as nonferrous scrap products. Nucor is the North America region’s biggest recycler.
On the other hand Tenaris S.A. is also focusing on strengthening its position in the global steel pipe market through acquisitions and mergers with various key players. Primarily, the company is focusing on maintaining its position in the oil & gas industry by carrying out activities, such as Research and Development, offering enhanced products, and divestiture of assets.