David Joseph to purchase Galamba Metals Group

On February 19, 2008 The David J. Joseph Company (DJJ), Cincinnati, Ohio, entered into an agreement to acquire the assets and business of Kansas City, Missouri based Galamba Metals Group. The Galamba Group, founded in 1977, is owned by Richard Galamba. Galamba Metals operates a total of 16 full-service scrap processing facilities (including two automobile shredders) in Kansas, Missouri and Arkansas. The Galamba Group employs 385 people.

Galamba's current employees and management team, led by its president Raynard Brown, will remain with the company. The Galamba Group will become DJJ's fifth wholly-owned regional scrap processing company.

The transaction is expected to close by April 1, 2008, subject to completion of due diligence and obtaining necessary regulatory approvals.

The David J. Joseph Company was founded in 1885. DJJ brokers ferrous and nonferrous metals, pig iron, and HBI/DRI; supplies Ferro-Alloys; processes ferrous and nonferrous scrap; and provides a comprehensive suite of complementary services including logistics, industrial, mill/rail, and railcar lease, purchase, sale and finance. DJJ also operates 6 self serve used auto parts stores nationwide. Excluding this announced acquisition, DJJ’s Processing Group comprises a network of 35 scrap processing facilities including 12 shredders. DJJ employs 1,700 and is headquartered in Cincinnati, Ohio. On February 8, 2008 Nucor Corporation (nyse:nue) announced it had agreed to acquire 100% of the shares of SHV Holdings North America, the parent of DJJ. That transaction is expected to close by February 29, 2008.