Oct. 9, 2006 — Nucor Corp. has selected Memphis, Tenn., as the site for its new Special Bar Quality Products steel mill.

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- to 9-inch for the automotive, heavy equipment and service center markets.

“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 CEO. “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.”

Nucor had announced plans to construct this mill in July 2006, stating that it would be located in the southern United States. The state-of-the-art facility is expected to cost approximately $230 million and to employ more than 200 people.

“This facility complements our Nebraska and South Carolina SBQ mills,” continued DiMicco. “It gives us one of the most diverse SBQ product offerings from 7/32- to 9-inch rounds, all with a minimum of 5:1 reduction ratio.”

Construction is expected to begin after satisfactory resolution of regulatory approvals and various contracts, with start-up expected to begin in the first quarter of 2008.

Nucor and affiliates manufacture steel products, with operating facilities in seventeen states. Products include carbon and alloy steel 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.