Nucor Corporation announced that Memphis, Tenn., has been selected as the site for the "Special Bar Quality Products" steel mill. In July 2006, Nucor announced plans to construct this mill in the southern United States. This state-of-the-art facility is expected to cost approximately $230 million and to employ more than 200 people. The facility, which will have an estimated annual capacity of 850,000 tons, will produce high-quality carbon and alloy rounds and round cornered squares from 2.25 inches to 9 inches for the automotive, heavy equipment and service center markets. Construction is expected to begin after satisfactory resolution of regulatory approvals and various contracts. Startup is expected to begin in the first quarter of 2008.
"We are looking forward to operating this facility in Memphis and expanding our presence in the southern United States," said Daniel R. DiMicco, Nucor's Chairman, President and Chief Executive Officer. "This growth project provides Nucor with an exciting opportunity to capitalize on a significantly better cost structure compared to key competitors in the Special Bar Quality market, both domestic and foreign. This facility complements our Nebraska and South Carolina SBQ mills and gives us one of the most diverse SBQ product offerings from 7/32-inch to 9-inch rounds, all with a minimum of 5:1 reduction ratio."
Nucor and its affiliates are manufacturers of steel products, with operating facilities in seventeen states. Products produced are: carbon and alloy steel - in bars, beams, sheet and plate; steel joists and joist girders; steel deck; cold finished steel; steel fasteners; metal building systems; and light gauge steel framing. Nucor is the nation's largest recycler.
About the Author
