Nucor Wraps Buy of 2 Scrap Metal Cos.

Nucor did not disclose the financial terms of the deals announced earlier this year, but said the companies were purchased at "a very attractive multiple."

Both companies will become part of Nucor unit David J. Joseph Co.

Galamba, of Kansas City, Mo., operates 16 full-service scrap processing facilities in Kansas, Missouri and Arkansas and processes over 500,000 tons annually.

Metal Recycling Services, of Monroe, N.C., operates a full-service processing facility and two North Carolina feeder yards and expects to process 220,000 tons annually.

Nucor is the largest purchaser of iron scrap in North America, with total scrap purchases of 22.8 million tons in 2007.

Shares rose $1.48, to 2.1 percent, to $70.80 in late morning trading.