MemberNews: Nucor Announces Plans to Build Galvanizing Line at Arkansas Sheet Mill
CHARLOTTE, N.C., May 11, 2018 /PRNewswire/ — Nucor Corporation's (NYSE: NUE) Board of Directors approved the construction of a galvanizing line at the company's sheet mill in Arkansas to support Nucor's growth into a wider and more diverse set of strategic end-market applications. The new galvanizing line is a $240 million investment with an annual capacity of approximately 500,000 tons. It is expected to be operational in the first half of 2021.
This project complements the $230 million investment currently underway to construct a specialty cold mill complex at Nucor Steel Arkansas. These projects are important components of Nucor's long-term strategy for profitable growth and will accelerate the company's goal of increasing its automotive market share.
"At Nucor Steel Arkansas, we are building one of the most modern and efficient steel mills in the world," said John Ferriola, Chairman, CEO & President of Nucor. "This new galvanizing line, coupled with our new specialty cold mill complex, will allow us to efficiently produce products beyond the capability of any North American mill, and to have the flexibility to meet current and future demand for advanced high-strength steel products."
The company is also evaluating building additional galvanizing lines at its other sheet mills as part of Nucor's initiative to further expand its sheet business.
"Building this galvanizing line will diversify the product mix at Nucor Steel Arkansas and allow us to better serve our automotive and value-added customers," said MaryEmily Slate, Vice President and General Manager, Nucor Steel Arkansas. "We are positioning ourselves to become a major supplier to the growing galvanized market in the U.S."
SOURCE Nucor Corporation http://www.nucor.com