Birmingham Steel Corporation was a

steel Steel is an alloy of iron and carbon that demonstrates improved mechanical properties compared to the pure form of iron. Due to steel's high Young's modulus, elastic modulus, Yield (engineering), yield strength, Fracture, fracture strength a ...

producer in the United States, which made steel merchant and

rebar Rebar (short for reinforcement bar or reinforcing bar), known when massed as reinforcing steel or steel reinforcement, is a tension device added to concrete to form ''reinforced concrete'' and reinforced masonry structures to strengthen and aid ...

products. The company was formed in 1983 by

AEA Investors AEA Investors LP is an American middle market private equity firm. The firm focuses on leveraged buyout, growth capital, and mezzanine capital investments in manufacturing, service, distribution, specialty chemicals, consumer product, and busi ...

, Inc. and managed by CEO James Todd. It bought steel mini-mills in Kankakee,

Illinois Illinois ( ) is a U.S. state, state in the Midwestern United States, Midwestern United States. It borders on Lake Michigan to its northeast, the Mississippi River to its west, and the Wabash River, Wabash and Ohio River, Ohio rivers to its ...

and the mills previously run by Todd at Birmingham Bolt. They then bought the Jackson, Mississippi-based

Mississippi Steel Mississippi Steel Corporation was a publicly traded company located in Flowood, Mississippi. It was the first steel mill built in the state, and its primary product has always been reinforcing bar steel. Its first incarnation ran from 1957 until 1 ...

Division of Magna Corp. The company went public on

NYSE The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...

in 1985. In 1993, the company purchased the

American Steel and Wire Company American(s) may refer to: * American, something of, from, or related to the United States of America, commonly known as the "United States" or "America" ** Americans, citizens and nationals of the United States of America ** American ancestry, p ...

. In June 2002, after several consecutive quarters of losses, the company filed for

Chapter 11 Chapter 11 of the United States Bankruptcy Code ( Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, w ...

bankruptcy protection. Its remaining steel mills and other assets were purchased by

Nucor Nucor Corporation is an American company based in Charlotte, North Carolina, that produces steel and related products. It is the largest steel producer in the United States and the largest recycler of scrap in North America. Nucor is the 16th- ...

in December 2002 for approximately $615,000,000.

References

Bibliography

*{{cite book, last1=Ahlbrandt, first1=Roger S., last2=Fruehan, first2=Richard J., last3=Giarratani, first3=Frank, title=The Renaissance of American Steel: Lessons for Managers in Competitive Industries, location=New York, publisher=Oxford University Press, date=1996, isbn=9780195108286, url=https://books.google.com/books?id=YY7mCwAAQBAJ Steel companies of the United States Companies based in Birmingham, Alabama Companies formerly listed on the New York Stock Exchange Companies that filed for Chapter 11 bankruptcy in 2002 Companies established in 1983 Companies disestablished in 2002 1983 establishments in Alabama 2002 disestablishments in Alabama

See also

References

Bibliography