Birmingham Steel Corporation was a steel

Steel

Steel is an alloy that consists mostly of iron and has a carbon content between 0.2% and 2.1% by weight, depending on the grade. Carbon is the most common alloying material for iron, but various other alloying elements are used, such as manganese, chromium, vanadium, and tungsten...

 producer in the United States, which made steel mechant and rebar

Rebar

A rebar , also known as reinforcing steel, reinforcement steel, rerod, or a deformed bar, is a common steel bar, and is commonly used as a tensioning device in reinforced concrete and reinforced masonry structures holding the concrete in compression...

 products. The company was formed in 1983 by AEA Investors

AEA Investors

AEA Investors is one of the oldest private equity investment firm in the United States. The firm focuses on leveraged buyout, growth capital and mezzanine capital investments in manufacturing, service, distribution, specialty chemicals, consumer product and business services companies in the...

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

Kankakee, Illinois

Kankakee is a city in Kankakee County, Illinois, USA. As of the 2000 census, the city population was 25,561, and 26,840 as of a 2009 estimate. It is the county seat of Kankakee County...

, Illinois

Illinois

Illinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...

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

Mississippi Steel

Mississippi Steel Corporation was the first steel mill built in the state. It was in business from 1957 until 1985 when it was bought by Birmingham Steel Corporation...

 Division of Magna Corp

Magna Corporation

Magna Corporation was a publicly-held company in Flowood, Mississippi, U.S.A. that served as a holding company. Its primary divisions were Mississippi Steel and Magna American Mississippi Steel was Mississippi's first steel manufacturer beginning operations in 1957...

. The company went public on NYSE in 1985.

In June 2002, after several consecutive quarters of losses, the company filed for Chapter 11 bankruptcy protection. Its remaining steel mills and other assets were purchased by Nucor

Nucor

Nucor Corporation , a Fortune 300 company headquartered in Charlotte, North Carolina, is one of the largest steel producers in the United States, and the largest of the "mini-mill" operators...

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