Nucor Steel Arkansas to build galvanizing line; adding 80-100 new jobs
CHARLOTTE, N.C. — Nucor Corporation's (NYSE: NUE) Board of Directors approved the construction of a galvanizing line at the company's sheet mill in Arkansas to support Nucor's growth into a wider and more diverse set of strategic end-market applications. The new galvanizing line is a $240 million investment with an annual capacity of approximately 500,000 tons. It is expected to be operational in the first half of 2021.
“We’re extremely pleased to see an established industry make a new investment in Mississippi County,” county economic developer Clif Chiwood said, noting the project will provide between 80-100 new jobs and opportunities for the citizens.
Blytheville Mayor James Sanders added, “We’re glad to see the current the expansion and growth occurring at Nucor. It will be a big shot in arm for economic development around the city of Blytheville.”
This project complements the $230 million investment currently underway to construct a specialty cold mill complex at Nucor Steel Arkansas. These projects are important components of Nucor's long-term strategy for profitable growth and will accelerate the company's goal of increasing its automotive market share.
"At Nucor Steel Arkansas, we are building one of the most modern and efficient steel mills in the world," said John Ferriola, Chairman, CEO & President of Nucor. "This new galvanizing line, coupled with our new specialty cold mill complex, will allow us to efficiently produce products beyond the capability of any North American mill, and to have the flexibility to meet current and future demand for advanced high-strength steel products."
The company is also evaluating building additional galvanizing lines at its other sheet mills as part of Nucor's initiative to further expand its sheet business.
"Building this galvanizing line will diversify the product mix at Nucor Steel Arkansas and allow us to better serve our automotive and value-added customers," said MaryEmily Slate, Vice President and General Manager, Nucor Steel Arkansas. "We are positioning ourselves to become a major supplier to the growing galvanized market in the U.S."
Nucor and its 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; hollow structural section tubing; electrical conduit; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; steel grating; 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.