Nucor Corp., Charlotte, N.C., announces that its Nucor Steel Arkansas division is building an additional cold mill that will expand its ability to produce advanced high-strength, high-strength low-alloy, and motor lamination steel products. The mill will cost an estimated $230 million to build, and is expected to be operational in approximately two years.
“This specialty cold mill complex supports our strategy of moving up the value chain and growing sales to the automotive market,” says John Ferriola, Chairman, Chief Executive Officer, and President of Nucor. “It will bring value to all of Nucor’s sheet mills by expanding our capability to produce advanced high-strength steels and broadening the automotive capability of our galvanized lines at Nucor Steel Decatur and Nucor Steel Berkeley.”
Ducker Worldwide estimates that four million tons of advanced high-strength and ultra-advanced high-strength steels will be used for the automotive market by 2025. The specialty cold mill complex will give Nucor the capability to produce products the company currently does not make, adding to Nucor’s comprehensive product portfolio and further differentiating Nucor from its competitors. Locating the cold mill at Nucor’s sheet mill in Arkansas will give the company a transportation advantage over competitors outside the region currently supplying the local market and the growing Mexican market.
Nucor Steel Arkansas employs 650 teammates. The addition of the specialty cold mill complex is expected to add approximately 100 jobs at an estimated average annual salary of $80,000.
