US鈥� largest steel producer acquires Rytec for $US565 million

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Nucor, the US鈥� largest steel producer and North America鈥檚 largest steel recycler, said it acquired US-based Rytec Corporation 鈥� a commercial door manufacturer 鈥� for US$565 million.

Nucor HQ (Image: Adobe Stock) Nucor鈥檚 corporate office building in North Carolina, US. (Image: Adobe Stock)

Rytec鈥檚 products include rigid rolling doors for warehouses, manufacturing facilities, auto dealerships, and parking garages. It also makes fabric doors for cold storage/food and beverage and clean-room applications.

Just last month, Rytec announced the construction of a new factory in the US Midwest, which was the culmination of a transition to robotic and semi-autonomous production including advanced data collection.

The new factory equipment includes a fully-automated metal storage and retrieval system, automated fibre optic laser and punch machines, robotic cells for bending large sheet metal forms, collaborative robotic welding cells, large-format CNC (computer numerical control) machining centres to drill, tap and custom-cut aluminium profiles for door side columns, bottom bars and headers, and an automated powder coat system for quick, automatic colour changes programmed into the system.

鈥淭he company has a strong focus on product development and has invested significantly in technology and automation to improve quality, increase efficiency, and enhance safety,鈥� said Nucor.

Nucor鈥檚 CEO, president, and chair Leon Topalian said, 鈥淭his acquisition further executes our strategy to expand beyond our core steelmaking businesses into related downstream businesses. Adding high-performance doors will create cross-selling opportunities with other Nucor businesses and greatly expand Nucor鈥檚 product portfolio serving the commercial arena.鈥�

The purchase was an all-cash transaction.

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