Nucor subsidiary will acquire Auburn-based Ambassador Steel

Greater Fort Wayne Business Weekly

Charlotte, N.C.-based Nucor Corp. today said its wholly owned subsidiary, Harris Steel Inc., has signed an agreement to acquire Auburn-based Ambassador Steel Corp.

Harris will purchase all of Ambassador's issued and outstanding common stock. Nucor, which has operations in Waterloo and St. Joe, said the transaction will include shares of Ambassador's affiliate, Delta Erecting Inc.

Ambassador is a fabricator and distributor of concrete reinforcing steel and related products.

Completion of the acquisition is contingent upon receipt of regulatory approvals, due diligence and fulfillment of other customary closing conditions, Nucor said in a statement. The company said the transaction is expected to close during the third quarter.