CHARLOTTE, N.C., Sept. 25,
2015 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced
today that Nucor-Yamato Steel Company (NYS), a joint venture
between Nucor and Yamato Kogyo Co. Ltd, is installing a
$75 million Quench and Self-Tempering
process to be utilized on its 1.4 million tons of Mill 2 rolling
capacity. Nucor Chairman, CEO and President John Ferriola was joined by Arkansas Governor Asa
Hutchinson to make the announcement at the Nucor-Yamato
Steel mill in Blytheville,
Arkansas. The project is expected to be commissioned during
the second half of 2016.
Upon completion, the process will give NYS the ability to
produce ASTM A913 Grade 65 and Grade 70 structural sections with a
high-strength, low-alloy grade chemistry that provides excellent
weldability while achieving good toughness at low
temperatures.
"This strategic investment will keep Nucor-Yamato Steel the
market leader in the wide-flange beam market servicing our
customers across the United
States," said Ferriola. "The A913 market is a
strategic part of the future of our company and will ensure we
continue to meet and exceed our customers' needs and requirements.
Additionally, this investment will enable Nucor-Yamato, its
more than 900 teammates and families, and supply chain to remain a
vibrant part of Northeast Arkansas
today and well into the future."
Common applications for the material will include gravity
columns for use in high-rise buildings, long-span trusses for
projects such as convention centers or stadiums, and for all
projects where seismic design is a critical factor. The
higher strength achieved from A913 will allow lighter foot weights
to be specified, which reduces the overall weight and material cost
for the owner, making steel even more competitive versus concrete
and wood.
"We are excited that Nucor is making this significant investment
here in Arkansas," said Governor
Hutchinson. "Nucor has been an important part of Arkansas's economy for almost three decades
and this investment shows their continued commitment to our
state."
Nucor and affiliates are manufacturers of steel products, with
operating facilities primarily in the U.S. and Canada.
Products produced include: carbon and alloy steel -- in bars,
beams, sheet and plate; steel piling; steel joists and joist
girders; steel deck; fabricated concrete reinforcing steel; cold
finished steel; steel fasteners; metals 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.
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)
the sensitivity of the results of our operations to prevailing
steel prices and the changes in the supply and cost of raw
materials, including scrap steel; (3) market demand for steel
products; and (4) 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 fiscal 2014 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.
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SOURCE Nucor Corporation