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Nucor Acquires David J. Joseph Company

CHARLOTTE, NORTH CAROLINA, February 8, 2008 – Nucor Corporation (NYSE: NUE) announced today that it has signed a Purchase Agreement to acquire the stock of SHV North America Corporation, which owns 100% of The David J. Joseph Company (“DJJ”), its related affiliates and real estate, for approximately $1.44 billion.  The David J. Joseph Company will be a wholly owned subsidiary of Nucor Corporation and will maintain its headquarters in Cincinnati, Ohio. “We are extremely excited to announce the acquisition of a company that has been our partner in growth for the last 38 years,” said Daniel R. DiMicco, Chairman, CEO and President of Nucor Corporation.  “With its considerable scale and excellent management team, DJJ offers Nucor a large platform for continued growth in this segment of the industry.  We are very excited that the DJJ leadership team, led by Keith Grass, will continue in their current roles. The 1,700 strong and highly successful members of the DJJ organization have always been part of the Nucor Team but now, more than ever, they will help drive our success from within the Nucor Family.” The David J. Joseph Company is one of the leading U.S. scrap companies.  The acquisition of DJJ will bring a variety of benefits to Nucor.  In addition to DJJ’s scrap processing operations and expertise, its extensive brokerage operations provide Nucor with global sourcing of many key steelmaking raw materials.  DJJ’s rail services and logistics capabilities will allow Nucor to leverage the largest private railcar fleet in North America dedicated to scrap transportation.  The industrial scrap programs of DJJ will also provide improved channels of raw materials to...