CHARLOTTE, N.C. (AP) - Steel producer Nucor Corp. said Monday it agreed to buy Magnatrax Corp., a supplier of fabricated steel to the commercial construction market, for $280 million in cash.
The purchase expands Nucor's business in the metal buildings business, the company said.
Nucor expects to the deal to add to earnings after it closes, which is planned for the third quarter.
Magnatrax operates seven fabricating plants and associated engineering service centers and transportation facilities across the U.S.
