Birmingham Steel Corporation was a steel producer in the United States, which made steel merchant and rebar products. The company was formed in 1983 by

AEA Investors AEA Investors 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 busines ...

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

Illinois Illinois ( ) is a state in the Midwestern United States. Its largest metropolitan areas include the Chicago metropolitan area, and the Metro East section, of Greater St. Louis. Other smaller metropolitan areas include, Peoria and Rockf ...

and the mills previously run by Todd at Birmingham Bolt. They then bought the Jackson, Mississippi-based Mississippi Steel 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 of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its liste ...

in 1985. In 1993, the company purchased the American Steel and Wire Company. 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, wheth ...

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

Nucor Nucor Corporation is an American producer of steel and related products based in Charlotte, North Carolina. It is the largest steel producer in the United States, the largest "mini-mill" steelmaker (i.e. it uses electric arc furnaces to melt s ...

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 established in 1983 Companies disestablished in 2002 1983 establishments in Alabama 2002 disestablishments in Alabama