June 22, 2016

Nucor-JFE Create Mexican JV

Nucor Corp., Charlotte, N.C., will form a 50-50 joint venture with Japan’s JFE Steel Corp. to build and operate a steel facility in central Mexico to supply the country’s automotive market. The plant is expected to cost $270 million and have the capacity to produce 400,000 tons per year of galvanized sheet steel. Operations are expected to begin in the second half of 2019.

"JFE Steel is a natural partner for us. They are a premier supplier of high-quality products to the automotive industry and share our focus on long-term growth," says John Ferriola, chairman, CEO and president of Nucor. "This joint venture builds on our efforts to increase our production of differentiated and value-added products. Continued growth in Mexico's automotive production presents an opportunity for Nucor to increase our sales to this important market."

Automotive production in Mexico is projected to increase from 3.4 million vehicles annually to 5.3 million by 2020. The joint venture gives Nucor improved geographic reach and an expanded product offering to address this roughly 50 percent growth in automotive demand and builds on JFE's commitment to serve the NAFTA market. Nucor and JFE will each supply an equal amount of substrate to be further processed at the new facility.


November 2017: 'Steady but Sloppy' Fittingly Sums 2017
More...
 
Pause
November 2017: Scrap First Steel Impact from Storms
More...
Fall 2017: Cutting & Sawing Equipment
More...
Summer 2017
More...
 
Pause
Advanced Controls on Braner Slitters
More...
AHVS Precision Leveler Features Flip-Top Design
More...
Formtek’s Tishken Slitter Increases Production Volume
More...
Red Bud System Handles High-Strength Steels
More...
Bradbury Launches Flat Trak CL Monitoring System
More...
Artus Knives Custom Designed
More...
 
Pause
Privacy Statement  |  Terms Of Use
Copyright by Metal Center News



Monday, December 18, 2017