Nucor Board of Directors Approves Steel Bar Micro Mill Project and Merchant Bar Operations Expansion
PR Newswire 15-Sep-2017 10:00 AM
CHARLOTTE, N.C., Sept. 15, 2017 /PRNewswire/ --Nucor Corporation (NYSE: NUE) announced today that Nucor's board of directors approved a steel bar micro mill project and announced the company is considering five states in the Midwest and Southeast for the project. The states being considered include Nebraska, Kansas, Missouri, South Carolina and Florida. Nucor's board of directors also approved the expansion of its existing merchant bar operations in either Illinois or Ohio.
Nucor's bar mills are a cornerstone of the company; they have generated significant value in the past, and they are expected to generate significant value in the future. Both the micro mill project and the expansion of its merchant bar operations are part of Nucor's planned strategy for long-term profitable growth. By leveraging Nucor's existing operating abilities, these projects will maintain our position as a low-cost producer and will allow us to better serve our customers.
Nucorand its affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; steel grating; and wire and wire mesh.Nucor, throughThe David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap.NucorisNorth America'slargest recycler.
Certain statements contained in this news release are "forward-looking statements" that involve risks and uncertainties. The words "believe," "expect," "project," "will," "should," "could" and similar expressions are intended to identify those forward-looking statements. Factors that might cause the Company's actual results to differ materially from those anticipated in forward-looking statements include, but are not limited to: (1) competitive pressure on sales and pricing, including competition from imports and substitute materials; (2) the sensitivity of the results of our operations to prevailing steel prices and the changes in the supply and cost of raw materials, including scrap steel; (3) market demand for steel products; and (4) energy costs and availability. These and other factors are discussed in Nucor's regulatory filings with theSecurities and Exchange Commission, including those inNucor'sfiscal 2016 Annual Report on Form 10-K, Item 1A. Risk Factors. The forward-looking statements contained in this news release speak only as of this date, andNucordoes not assume any obligation to update them.
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SOURCE Nucor Corporation