Nucor to Expand Special Bar Quality Production
01/26/2012 - Nucor Corp. has announced plans for the continued expansion of its special bar quality (SBQ) production capabilities by a combined one million tons over the next two years.
Nucor Corp. has announced plans for the continued expansion of its special bar quality (SBQ) production capabilities over the next two years.
Plans call for the investment of some $290 million for projects at the company’s Memphis, Tenn., Norfolk, Neb., and Darlington, S.C. steel mills. Nucor said the planned projects will enable the company to expand total SBQ and wire rod capacities by a combined one million tons. The capital plans also include investments in state-of-the-art quality inspection capabilities necessary to ensure the highest qualities for the most demanding engineered bar applications.
Engineering studies have been finalized, and the company expects to complete each of the projects by the end of 2013 subject to federal, state and local regulatory and other approvals.
"We are excited about these new investments in a strategic and growing segment of our bar mill business," said Daniel R. DiMicco, Nucor's Chairman and CEO. “Looking forward, we continue to see strength in the engineered bar markets, driven by energy, automotive, heavy truck and heavy equipment manufacturers. Furthermore, we believe that manufacturing growth in the U.S. will allow the SBQ markets to continue to grow over the next several years.
“These investments not only enhance our steel industry leadership status, but most importantly, position Nucor to meet the growing demands of our engineered bar customers, added DiMicco. “Finally, it is important to understand that we will continue to provide our full range of merchant, structural and rebar products to all of our traditional regional customers through our existing mill network.”
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, one of the leading scrap companies in the U.S., 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.
