Nucor Corporation announced that it is planning to add an additional cold mill at its Nucor Steel Arkansas division with an investment of $230 Million.
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 mill is expected to be operational in approximately two years.
The specialty cold mill complex will give Nucor the capability to produce products the company currently does not make, adding to Nucor's comprehensive product portfolio and further differentiating Nucor from its competitors as the leader in providing solutions to its customers. 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.
This specialty cold mill complex 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, said John Ferriola, Chairman, Chief Executive Officer and President of Nucor.
Nucor Steel Arkansas employs 650 teammates. The addition of the specialty cold mill complex is expected to add approximately 100 jobs.
|Company Name||Nucor Corporation|
|Type||New Specialty Cold Mill Complex|
|Estimated Cost||$230 Million|
|Jobs||100 New Jobs|
Source : nucor.com