Nucor to Close Nuconsteel
01/06/2012 - Nucor announced plans to exit the business of fabricating light gauge steel framing and close its Nuconsteel division.
Nucor Corp. announced plans to exit the business of fabricating light gauge steel framing and close its Nuconsteel division.
"This decision was a very difficult one due to the impact it has on our employees at Nuconsteel," said Dan DiMicco, Nucor's Chairman and CEO.
“We continually evaluate our business segments for long-term strategic fit and earnings potential,” added DiMicco. “The fabrication of residential and commercial light gauge steel framing does not offer the returns or scale necessary for Nucor to remain in the business.”
Nucor said it expects to close Nuconsteel’s facilities, with operations in Denton, Texas, and Dallas, Ga., in the spring of 2012, after meeting current customer contractual obligations.
"The Nuconsteel team is a group of hard working and dedicated individuals,” said Hamilton Lott, Executive Vice President of Fabricated Construction Products. “We very much appreciate the persistent and significant efforts of those teammates over the years and, where possible, we will encourage those employees to seek other opportunities within Nucor.”
Nucor entered the residential and commercial light gauge steel framing business in November 2001 with the acquisition of Itec Steel, Inc., which became Nuconsteel shortly thereafter.
Headquartered in Charlotte, N.C., Nucor and affiliates manufacture steel products, with operating facilities primarily in the U.S. and Canada. Products include carbon and alloy steel bars, beams, sheet and plate; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; steel grating and expanded metal; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.
