Nucor to Build New Smelter in Existing Bar Rolling Mill in Western US | State
CHARLOTTE, North Carolina, September 21, 2021 / PRNewswire / – Nucor Corporation (NYSE: NUE) today announced that its board of directors has approved the construction of a new smelter at one of the company’s existing bar mills in the Western United States. New $ 100 million The smelting workshop will have the capacity to produce 600,000 tonnes per year and create around 140 new full-time jobs, with a start-up scheduled for 2024.
âThe new smelter will help us maintain our leadership position in the steel bar production market and help us meet the anticipated growth in bar products from our customers in the market. Western United States,” noted Dan Needham, executive vice president of bar and rebar fabrication products for Nucor Corporation.
Nucor has 15 bar mills strategically located across United States which manufacture a wide range of steel products, including concrete rebar, hot rolled bar, rounds, lightweight shapes, structural angles, channels, wire rod and road products in carbon steels. carbon and allies. Four of the bar rolling mills have a strong focus on manufacturing SBQ products and wire rod. The steel produced by Nucor bar rolling mills serves many end markets, including the agriculture, automotive, construction, energy, furniture, machinery, steel construction, railways, recreational equipment, shipbuilding, heavy trucks and trailers. Nucor’s bar steel production capacity is estimated at approximately 9.5 million tonnes per year.
Nucor and its subsidiaries are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Products manufactured include: carbon and alloy steel – in bars, beams, plates and sheets; tubes of hollow structural section; Electrical conduit; steel shelving; steel piles; steel joists and joists; steel platform; fabricated reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; steel grating; and wire and wire mesh. Nucor, through The David J. Joseph Company, also deals in ferrous and non-ferrous metals, pig iron and hot briquetted iron / direct reduction iron; provides ferroalloys; and processes ferrous and non-ferrous waste. Nucor is the largest recycler in North America.
Certain statements contained in this press release are “forward-looking statements” that involve risks and uncertainties. The words “anticipate”, “believe”, “expect”, “intend”, “project”, “could”, “will”, “should”, “could” and similar expressions are intended to identify these forward-looking statements. These forward-looking statements reflect the best judgment of the company based on current information and, although we base these statements on circumstances that we believe are reasonable when made, there can be no assurance that future events will not affect the Company. accuracy of these forward-looking statements. information search. As such, forward-looking statements are not guarantees of future performance, and actual results may differ materially from the projected results and expectations discussed in this press release. Factors that could cause the Company’s actual results to differ materially from those anticipated in forward-looking statements include, but are not limited to: (1) competitive pressure on sales and pricing, including pressure from imports and substitute materials; (2) US and foreign trade policies affecting steel imports or exports; (3) the sensitivity of the results of our operations to prevailing market steel prices and to variations in the supply and cost of raw materials, including pig iron, iron ore and scrap; (4) the availability and cost of electricity and natural gas, which could negatively impact our steel production costs or cause the delay or cancellation of existing or future drilling under our programs natural gas drilling; (5) critical equipment failures and business interruptions; (6) Market demand for steel products, which in the case of many of our products is driven by the level of non-residential construction activity in the United States; (7) impairment of the recorded value of inventories, participations, fixed assets, goodwill or other long-lived assets; (8) uncertainties surrounding the global economy, including excess global steel production capacity; (9) fluctuations in currency conversion rates; (10) material changes in laws or government regulations affecting environmental compliance, including laws and regulations that result in stricter regulation of greenhouse gas emissions that could increase our energy costs, capital expenditures and our operating costs or result in the revocation of one or more of our permits or make it more difficult to obtain permit modifications; (11) the cyclical nature of the steel industry; (12) capital investments and their impact on our performance; (13) our safety performance; and (14) the impact of the COVID-19 pandemic and any variant of the virus. These and other factors are discussed in Nucor’s regulatory documents with the Securities and Exchange Commission, including those in “Section 1A.” Risk Factors âof Nucor’s annual report on Form 10-K for the year ended. December 31, 2020. The forward-looking statements contained in this press release speak only as of this date, and Nucor assumes no obligation to update them, except as required by applicable law.