Charlotte-based Nucor said Thursday that it has agreed to buy Republic Conduit, which makes steel electrical conduit, from Luxembourg-based Tenaris S.A. for $335 million.
Republic Conduit employs about 300 at two locations in Louisville, Kentucky, and Cedar Springs, Georgia. Nucor said the deal would make it the market leader in steel conduits.
“The purchase of Republic Conduit complements our recent expansion of Nucor’s presence in the pipe and tube market and gives us a new line of value-added products to offer our customers,” said Nucor CEO John Ferriola in a statement.
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