Sept. 28, 2016

Nucor to Build $230 Million Cold Mill

One day after announcing the Independence Tube acquisition, Nucor revealed plans to construct an additional cold mill at its Nucor Steel Arkansas operation. The specialty cold mill complex will expand Nucor's capability to produce advanced high-strength, high-strength low-alloy and motor lamination steel products. The steelmaker estimates the mill will cost $230 million and take two years to build.

"This specialty cold mill complex supports our strategy of moving up the value chain and growing sales to the automotive market," says John Ferriola, Nucor’s chief executive. "It will bring value to all of Nucor's sheet mills by expanding our capability to produce advanced high-strength steels and broadening the automotive capability of our galvanized lines at Nucor Steel Decatur and Nucor Steel Berkeley."

The specialty cold mill complex will give Nucor the capability to produce new types of products, adding to Nucor's portfolio. Locating the cold mill at Nucor's sheet mill in Arkansas will give the company a transportation advantage over competitors outside the region currently supplying the local market and the growing Mexican market.

"We are excited to bring this expansion to Arkansas that will enable us to efficiently produce products beyond that of any North American mill," says MaryEmily Slate, vice president and general manager of Nucor Steel Arkansas.

Nucor’s capital investment may have been influenced by the new competitor just down the road. Big River Steel in Osceola, Ark., plans to start production late this year.


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Sunday, December 17, 2017