Photo Credits: Nucor Corporation
Nucor Corporation, Charlotte, N.C., a steel products manufacturer and SFIA member, recently announced its acquisition of a majority ownership position in California Steel Industries, Inc. The company also plans to build a new sheet mill in West Virginia.
New State-Of-The-Art Sheet Mill
On January 12, 2022, Nucor Corporation announced that it will build a new state-of-the-art sheet mill in Mason County, West Virginia.
The West Virginia location on the Ohio River provides Nucor with important transportation and logistics advantages, and a strengthened ability to serve customers in the Midwest and Northeast, the two largest sheet consuming regions in the U.S. When fully operational, the new mill will employ approximately 800 full-time teammates.
“Following a thorough process to determine the right location for our state-of-the-art, greenfield sheet mill, we are thrilled to make this significant investment in West Virginia and enhance our presence in this important region,” said Leon Topalian, President and Chief Executive Officer of Nucor Corporation.
The new sheet mill is expected to cost approximately $2.7 billion and have the capacity to produce three million tons of steel annually. The mill will be equipped to produce 84-inch sheet products and, among other features, will include a 76-inch tandem cold mill and two galvanizing lines.
- Galvanizing capabilities will include an advanced high-end automotive line with full inspection capabilities as well as a construction-grade line
- In addition to its advanced capabilities and optimal strategic location, the new greenfield mill will have a significantly lower carbon footprint than competitors that have historically supplied the region
Construction is expected to take two years pending permit and regulatory approvals. Additional sites in Northern West Virginia are also under consideration for a transload and processing facility.
View Nucor Dedicated Website for Project
Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico.
Nucor Acquires California Steel Industries
On February 3, 2022, Nucor Corporation announced that it has successfully completed its acquisition of a majority ownership position in California Steel Industries, Inc. by purchasing a 50% equity interest from a subsidiary of Vale S.A. for a cash purchase price of $400 million, adjusted for net debt and working capital at closing, as well as a 1% equity ownership stake from JFE Steel Corporation.
CSI is a flat-rolled steel converter with the capability to produce more than two million tons of finished steel and steel products annually.
- The company has five product lines, including hot rolled, pickled and oiled, cold rolled, galvanized and ERW pipe
- Key end-use segments served by CSI include customers in the construction, service center and energy industries
“We are excited to officially welcome our CSI teammates to the broader Nucor family,” said Rex Query, Nucor’s Executive Vice President of Sheet and Tubular Products. “This joint venture gives us a strong presence in the Western region and grows our ability to produce an even wider range of value-added sheet products for our modern economy.”
About Nucor
Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Products produced include: carbon and alloy steel — in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; 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.
