THE FIRST OFFICER, WHO WAS FLYING THE ILS APPROACH, NEVER ESTABLISHED THE AIRPLANE ON THE CENTERLINE AND 'CHASED' THE LOCALIZER NEEDLE. THE CAPTAIN TOOK CONTROL OF THE AIRPLANE ABOUT 250 FEET AGL AND ATTEMPTED A SIDE STEP MANEUVER. THE AIRPLANE TOUCHED DOWN IN A LEFT BANK AND THE LEFT WING TIP STRUCK THE RUNWAY.