Steel Mills
Nucor Acquires Castings Company in Mexico
Written by Sandy Williams
November 29, 2018
Nucor is increasing its presence in Mexico with the acquisition of Corporacion POK, a fully integrated precision castings company with a facility in Guadalajara.
“Our company has had a presence in Mexico for more than a decade. We know the market and the customers there. This acquisition supports Nucor’s strategy in Mexico, which is focused on downstream processing for high-quality, value-added applications targeting niche markets,” said John Ferriola, Chairman, CEO and President of Nucor Corp. “Expanding our capability to produce value-added products is a key component of our strategy for long-term profitable growth.”
POK employs 425 people at its Guadalajara facility and produces a wide array of precision castings using steel, bronze, iron and specialty exotic alloys. POK’s products are used by the oil and gas, mining and sugar processing industries. The acquisition will enable Nucor to broaden its current product offerings and expand sales in new and existing markets.
Nucor’s other Mexican holdings include Nucor ATP, a cold finishing facility in Monterrey, Mexico, as well as several sheet steel processing centers as part of its Steel Technologies joint venture with Mitsui & Co. The company is also partnering with Japan’s JFE Steel Corp. to build a galvanizing line to serve the Mexican automotive market.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
AISI: Raw steel production backs off multi-year high
US raw steel output edged lower last week after hitting a multi-year high in mid-June, according to the American Iron and Steel Institute (AISI).
Private equity firm Atlas Holdings to acquire Evraz North America
Atlas Holdings said it has signed a definitive agreement to acquire Evraz North America (Evraz NA). The Greenwich, Conn.-based private equity firm said it expects the deal for the Chicago-based steelmaker to close in the second quarter of 2025 subject to various closing condition.
Granite City Works must remain open and other terms of the Nippon-USS deal
SEC documents also name Trump specifically as having veto power certain decisions are part of the “Golden Share” provision.
USS shuffles some leadership roles after close of Nippon deal
USS shuffles leadership deck after deal closes with Nippon.
ArcelorMittal fires up steelmaking at Calvert mill
With the marking of the EAF’s first heat earlier this month, the mill has moved from a rerolling and finishing mill to a full steelmaking facility.