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Charlotte headquartered Nucor buying door manufacturer for $3B

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CHARLOTTE – Nucor, headquartered in Charlotte, has acquired C.H.I. Overhead Doors from publicly-traded company KKR & Co. Inc for $3 billion, the company announced in a statement.

C.H.I. manufacturers overhead door products for residential and commercial use and employs 800 workers at manufacturing plants in Indiana and Illinois, as well as at warehouses in California, Colorado, New Hampshire, and New Jersey.

“We are very excited to welcome our C.H.I. teammates to the Nucor team,” said Leon Topalian, president and CEO of Nucor Corporation, in the statement. “They have built a tremendous business with strong growth prospects that is a natural fit with our capabilities.

Nucor announced earlier this year that it would invest $310 million in a new rebar manufacturing facility in Davidson County, with the intention of hiring some 180 workers from the region.

The company also bought a business unit from Cary-based Cornerstone Building Brands for $1 billion last June and acquired another company in July 2021 for $310 million.

Even prior to the most recent acquisition, Nucor had jumped into the Fortune 500, rising 51 spots to the 98th slot, joining a dozen other companies with North Carolina headquarters locations.

The price of the company’s stock (NYSE: NUE) has jumped 4.25% in mid-day trading.

Cornerstone Building Brands in Cary sells biz unit with 830 workers to Nucor for $1B

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  • Source: https://wraltechwire.com/2022/06/24/charlotte-headquartered-nucor-buying-door-manufacturer-for-3b/

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