Nucor steel expands with new $565 million deal for a company with over 300 workers

Charlotte-based Nucor Corp. has agreed to buy a Wisconsin door manufacturer for $565 million.

Nucor’s purchase of Rytec Corp., which makes high-performance commercial doors, includes two manufacturing facilities with more than 300 employees, the steel company said in a news release this week.

The acquisition is part of Nucor’s strategy for the steel giant to expand beyond its core focus into related businesses, Nucor CEO Leon Topalian said in a statement.

“Adding high-performance doors will create cross-selling opportunities with other Nucor businesses and greatly expand Nucor’s product portfolio,” Topalian said.

Rytec makes high-speed Spiral rigid rolling doors for warehouses, manufacturing facilities, auto dealerships and parking garages, as well as fabric doors for cold storage/food and beverage, manufacturing and clean room applications.

Just two years ago, Nucor purchased Illinois-based C.H.I. Overhead Doors for $3 billion, The Charlotte Observer reported.

The combination of Rytec with C.H.I. Overhead Doors will provide more product options for Nucor’s commercial customers, said Chad Utermark, executive vice president of new markets and innovation for Nucor.

Nucor has about 900 employees in North Carolina and about 31,000 workers throughout its more than 300 facilities in the U.S., Canada and Mexico, according to the company website.