Nucor Corporation Approves the Construction of A New Three-Million-Ton Sheet Mill
September 20, 2021 at 07:00 am EDT
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Nucor Corporation announced that its board of directors has approved the construction of a new three-million-ton sheet mill. Nucor is evaluating locations in Ohio, Pennsylvania, and West Virginia. The new mill will be geographically situated to serve customers in the Midwest and Northeast markets and will have a significantly lower carbon footprint than nearby competitors. 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 able to produce hot-rolled sheet products with downstream processing including a tandem cold mill, annealing capabilities and initially two galvanizing lines. Galvanizing capabilities will include an advanced high-end automotive line with full inspection capabilities as well as a construction-grade line. Once state and local incentives, permitting and other regulatory approvals are received, construction is expected to take two years.
Nucor Corporation is one of the leading American steel production groups. Products are sold to the automotive, household appliance, construction, mechanical, and similar sectors, etc. Net sales break down by activity as follows:
- production of hot and cold rolled steels (66.2%): sheet metals (52.5% of sales), bars (25%), flat products (11.7%) and structural products (10.8%);
- manufacturing of steel products (26.7%): fasteners, girders, beams, precision bands, concrete rounds, wire mesh, metal construction systems, etc.;
- processing and transformation of steel and metal scrap (7.2%). The group is also involved in buying and selling iron alloys and non-ferrous metals.