On Wednesday, Shares of Nucor Corporation (NYSE:NUE), subtract -0.80% and closed at $59.85 in the last trading session. The last trading range of the stock ranges between $59.25 and $60.06. Nucor Corporation (NUE) declared recently that it has closed on its acquisition of Independence Tube Corporation for about $435 million.
“We are happy to welcome the 335 teammates at Independence Tube to the Nucor family,” said John Ferriola, Chairman, CEO and President of Nucor Corporation. “This is a great acquisition for Nucor, giving us another growth platform and enhancing our position as the most comprehensive provider of steel solutions to the construction and infrastructure markets.”
Independence Tube is a leading manufacturer of hollow structural section (HSS) steel tubing, which is used in a broad array of structural and mechanical applications counting nonresidential construction, infrastructure, and agricultural and construction equipment end-use markets. Independence Tube has the second highest market share in HSS, selling its products mainly through service centers, which are also an important channel to market for Nucor products.
Doug Jellison will serve as President of Nucor Tubular Products. Jellison formerly served as Vice President of Corporate Planned Planning for Nucor.
Golden Ocean Group Ltd (NASDAQ:GOGL), jumped 7.88% and closed at $4.52 in the last trading session. The last trading range of the stock ranges between $4.31 and $5.08. The company’s Market capitalization is $476.60 million with the total Outstanding Shares of 105.95 million. In connection with the release of Golden Ocean’s third quarter 2016 results in the morning (CET) Tuesday November 22, 2016, a teleconference/webcast will be held as described below:
Teleconference and webcast
A conference call will be held at 03:00 P.M. CET (9:00 A.M. New York Time) on Tuesday November 22, 2016.