Steel Mills
Nucor Investing $4.4 Million at Decatur Facility
Written by Sandy Williams
March 31, 2016
Nucor plans to invest $4.4 million in its Decatur steel manufacturing plant to upgrade the hot metal pickle line.
On Monday, the Decatur Industrial Development Board approved an abatement of about $117,545 in non-educational state, city and county taxes over a 10-year period for the project.
“We appreciate Nucor’s continued investment in their Decatur operations to remain competitive and retain the well-paying jobs for our citizens,” said Jeremy Nails, president and CEO of the Morgan County Economic Development Association.
Chad Potter, division controller for Nucor Steel Decatur, called the investment a small but important one for Nucor. The new equipment for the pickle line will improve the company’s ability to serve the growing automotive market.
The upgrades will not create any new jobs but are expected to enhance job security for the facility’s 730 employees.
Work on the line is scheduled to begin on Friday and be finished by the end of 2016. Nucor spokeswoman Katherine Miller said the upgrade of the pickle line at the sheet mill will be done during times of routine scheduled maintenance and will not cause any disruption to production or service to customers.
“When the project is completed, our Decatur mill will be able to serve additional sheet markets, including automotive,” said Miller. “This project will allow Nucor Steel Decatur to move up the value chain, which is part of Nucor’s long-term strategy for profitable growth.”
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
BREAKING NEWS: Cliffs plans to idle three mills, cut 950 jobs on ‘insufficient demand and pricing’
Cleveland-Cliffs plans to indefinitely idle its steel mill in Riverdale, Ill., as well as mills in Conshohocken, Pa., and Steelton, Pa. The Cleveland-based steelmaker said all three facilities would be idled on or around June 30. Approximately 950 jobs will be impacted, the company said.
CRU: Usiminas may reduce capex unless government strengthens protection
“The lack of effective measures to create fair competition, amid a surge in subsidized imports, is the main threat to the sustainability of Brazil’s steel industry and its value chain,” CEO Marcelo Chara said.
USS swings to loss in first quarter on N. American flat-rolled segment woes
U.S. Steel CEO praised the company’s resilience, “despite the seasonally low results driven by annual mining logistics constraints in our North American Flat-Rolled segment and lagging spot prices.”
Nucor gives updates on new capacity coming online
Nucor said several of its capital projects will start operations within the next year and provided an update on them.
Algoma swings to loss on ‘market challenges’ and ‘tariff uncertainties’
Canada’s Algoma Steel swung to a loss in the first quarter amid "market challenges," and the company now expects first steel production from its first EAF in the second quarter.