Steel Mills
Nucor to Acquire Plate Mill in Texas
Written by Sandy Williams
July 20, 2016
CHARLOTTE, N.C., July 20, 2016 — Nucor Corporation announced today that it has agreed to acquire Joy Global’s steel plate mill in Longview, Texas, for approximately $29 million. The mill produces carbon and alloy plate products with heat-treating capabilities and has an annual capacity of 180,000 tons.
“This acquisition builds on our strategy to capture a growing share of higher value-added plate products and complements the capabilities of our two existing plate mills,” said John Ferriola, Chairman, CEO and President of Nucor. “The Longview mill will serve as a valuable addition to Nucor’s plate product offerings, which we believe can be further leveraged by our Nucor commercial team.”
The mill produces specialty plate products with the capability of producing plate that can range from 1 to 12 inches thick and up to 138 inches wide. Approximately 140 non-unionized teammates work at the Longview mill.
Nucor’s existing plate mills are in North Carolina and Alabama and have a combined capacity of 2.9 million tons per year. Nucor’s existing mills produce plate for manufacturers of barges, bridges, heavy equipment, rail cars, refinery tanks, ships, wind towers, armor and other markets. Nucor plate products are also used in the pipe and tube, pressure vessel, transportation and construction industries.
Source: Nucor Corporation
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Ternium swings to Q3 loss, eyes 2026 recovery
Ternium closed the third quarter with steady shipments and improving margins. But trade policy uncertainty and subdued demand in Mexico weighed on the Latin American steelmaker’s results.
Algoma’s losses widen in Q3 as tariff troubles continue
Algoma Steel’s net loss more than quadrupled in the third quarter on trade woes and its EAF transition. Separately, the company announced a change in leadership, as CEO Michael Garcia will retire at the end of the year.
Cliffs, POSCO announce MoU for ‘transformative’ partnership
Cleveland-Cliffs on Thursday said it had signed a memorandum of understanding (MoU) with POSCO to forge a strategic partnership, one Cliffs bills as "transformative."
Cliffs touts steel stamping solution to replace aluminum in automotive
Cliffs said it successfully completed a defect-free trial production of exposed steel parts using aluminum-forming equipment in collaboration with an unnamed OEM,
Nucor navigates mixed flat-rolled markets with strategic muscle
Nucor entered the fourth quarter with clear forward momentum: stronger-than-expected results, solid sheet and plate demand, and construction progress on a major new mill that should add capacity next year.