Nucor Corp., Charlotte, N.C., has agreed to acquire the Joy Global steel plate mill in Longview, Texas, for approximately $29 million. The mill produces carbon and alloy steel plate products with heat-treating capabilities, and has an annual capacity of 180,000 tons. 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.
“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 products, which we believe can be further leveraged by our Nucor commercial team.”
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.
Nucor and its affiliates are manufacturers of steel products, with operating facilities primarily in the United States and Canada. Products include carbon and alloy steel as bars, beams, sheet, and plate; steel pilings; steel joists and joist girders; steel decks; fabricated concrete reinforcing steel; cold-finished steel; steel fasteners; metal building systems; steel grating; and wire and wire mesh. Nucor, through the David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America’s largest recycler.
www.nucor.com
