Nucor to acquire Southland for $130M in second HSS buy

摘要

Nucor Corp. has agreed to acquire Southland Tube Inc. for $130 million, further solidifying the mini-mill operator as a major provider of structural tubing.The sale price represents approximately eight times Southland's average earnings before interest, taxes, depreciation and amortization (Ebitda) between 2011 and 2016, Nucor said Dec. 6. Southland, with 280 nonunionized employs and 240,000 tons in annual volume, is the third-largest U.S. maker of hollow structural sections (HSS).