Released on February 8, 2008

Steelmaker Nucor Corp., Charlotte, N.C., has signed a purchase agreement to acquire scrap recycler David J. Joseph Co., Cincinnati, Ohio, and its related affiliates and real estate, for approximately $1.44 billion.

David J. Joseph now will be a wholly owned subsidiary of Nucor and will maintain its headquarters. The addition of the company to Nucor’s current scrap processing capabilities will allow the company to process approximately 4 million tons of ferrous scrap annually.

“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. “With its considerable scale and excellent management team, DJJ offers Nucor a large platform for continued growth in this segment of the industry.”

David J. Joseph was founded in 1885 and has been the broker of ferrous scrap to Nucor since 1969. Currently the company has five main businesses—brokerage services, scrap processing, mill and industrial services, rail services and self service auto parts.