CHARLOTTE, N.C., May 20, 2019 /PRNewswire/ -- Nucor
Corporation (NYSE: NUE) announced a capital investment that will
add vacuum degassing to its engineered bar capabilities at its bar
mill in Darlington, South
Carolina. Adding this capability will enable the mill to
produce engineered bar products meeting some of the most stringent
quality specifications in the industry. The vacuum degassing system
is expected to begin operations in late 2020.
"This strategic investment complements our existing bar mills
that primarily produce engineered bar products in Norfolk, Nebraska, Memphis, Tennessee, and Wallingford, Connecticut. It will
position us to better serve our customers in the Southeastern United States and support the
growing demand in the region for higher quality automotive and
other specialty steel applications," said John Ferriola, Chairman, CEO and President of
Nucor Corporation.
Nucor Steel South Carolina is the first steel mill Nucor built.
Producing steel by means of melting recycled scrap in an electric
arc furnace ("EAF"), the mill started a revolution in the way steel
is made in the United States.
Today, approximately 70 percent of the steel made in this country
is produced using EAFs. Next month, the Darlington facility will hold an event to
celebrate its 50th anniversary.
Nucor Steel South Carolina employs more than 450 teammates and
produces merchant bar, wire rod, special bar quality and cold
headed quality bar.
Nucor and its affiliates are manufacturers of steel and steel
products, with operating facilities in the U.S. and Canada. Products produced 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; fabricated concrete reinforcing steel;
cold finished steel; precision castings; steel fasteners; metal
building systems; steel grating; and wire and wire mesh. Nucor,
through The David J. Joseph Company, also brokers ferrous and
nonferrous metals, pig iron and hot briquetted iron / direct
reduced iron; supplies ferro-alloys; and processes ferrous and
nonferrous scrap. Nucor is North
America's largest recycler.
Certain statements contained in this news release are
"forward-looking statements" that involve risks and uncertainties.
The words "believe," "expect," "project," "will," "should," "could"
and similar expressions are intended to identify those
forward-looking statements. Factors that might 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 competition
from imports and substitute materials; (2) U.S. and foreign trade
policies affecting steel imports or exports; (3) the sensitivity of
the results of our operations to prevailing steel prices and
changes in the supply and cost of raw materials, including scrap
steel; (4) market demand for steel products; and (5) energy costs
and availability. These and other factors are discussed
in Nucor's regulatory filings with the Securities
and Exchange Commission, including those in Nucor's 2018
Annual Report on Form 10-K, Item 1A. Risk Factors. The
forward-looking statements contained in this news release speak
only as of this date, and Nucor does not assume any
obligation to update them.
View original
content:http://www.prnewswire.com/news-releases/nucor-announces-capital-investment-at-south-carolina-bar-mill-300853072.html
SOURCE Nucor Corporation