To boost production, Nucor Corporation announced its plans to build a tube mill in the Midwest region. The company will invest approximately USD 164 million for new production facility in the Midwest.
- The new facility is expected to be in operation in two years.
- The new tube mill will have the capacity to produce approximately 250,000 tons of hollow structural section (HSS) tubing, mechanical steel tubing and galvanized solar torque tube.
- The expansion will increase Nucor’s product offerings for construction, infrastructure and renewable energy in the expanding solar market in the United States.
The prominent deals and expansions by Nucor Corporation are featured below:
Oct 2020: Nucor Corporation announced that it entered into an asset purchase agreement to acquire the Precoat Metals Corporation’s paint line facility located in Armorel, Arkansas, the USA.
December 2019: Nucor Corporation had acquired TrueCore, LLC, an insulated metal panel manufacturing company with a facility in Laurens, South Carolina. TrueCore produces insulated metal panels serving the cold storage market, with future plans for additional commercial and industrial applications.
May 2019: Nucor Corporation announced a capital investment to add vacuum degassing to its engineered bar capabilities at its bar mill in Darlington, South Carolina. The expansion enabled the mill to produce engineered bar products meeting some of the most stringent quality specifications in the industry.
March 2019: Nucor Corporation announced a new state of the art steel plate mill in Brandenburg, Kentucky, located along the Ohio River southwest of Louisville. The company had invested approximately $1.35 billion to build the mill, which capable of producing 1.2 million tons per year of steel plate products.
Nucor Corporation, headquartered in Charlotte, North Carolina, the USA, is a leading steel manufacturer. The company manufactures steel and steel related products which include: carbon and alloy steel — in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel piling; steel joists and joist girders; steel deck; precision castings; steel fasteners; metal building systems; steel grating; and wire and wire mesh and others. The company has operating facilities in the U.S., Canada and Mexico. Nucor employs approximately 26,000 people across the globe.