Jul 13 2006
Nucor Corporation announced today that it plans to construct a "Special Bar Quality Products" steel mill in the Southern United States with an estimated capacity of 850,000 tons. This state-of-the-art facility will produce high-quality carbon and alloy rounds and round cornered squares from 3" to 9" for the automotive, heavy equipment and service center markets. Nucor is currently considering several locations. Construction is expected to begin after satisfactory resolution of site location, regulatory approvals, tax matters and various contracts.
"This is a great opportunity to position Nucor as a market leader in Special Bar Quality products. We have consistently said over the last six years that we would not build a greenfield steel mill unless we could take advantage of a unique market niche and/or a significantly better cost structure compared to the competition. This project definitely fits that strategy," said Daniel R. DiMicco, Nucor's Chairman, President and Chief Executive Officer.
D. Michael Parrish, Executive Vice President, stated, "I'm very excited about this project because it complements our Nebraska SBQ Mill and gives us one of the most diverse SBQ product offerings from 7/32 inch to 9 inch rounds, all with a minimum of 5:1 reduction ratio. It really puts an emphasis on quality with bloom casting and vacuum degassing."
Nucor and affiliates are manufacturers of steel products, with operating facilities in seventeen states. Products produced are: carbon and alloy steel - in bars, beams, sheet and plate; steel joists and joist girders; steel deck; cold finished steel; steel fasteners; metal building systems; and light gauge steel framing. Nucor is the nation's largest recycler.