Nucor to Add Blast and Prime Line at New Kentucky Plate Mill
Nucor Corporation (NYSE: NUE) announced plans to add a blast and prime line to its new steel plate mill in Brandenburg, Kentucky. This addition will have an annual capacity of approximately 120,000 tons, enhancing the company's offerings for heavy plate products, especially for key markets such as military and infrastructure. The $1.7 billion investment is expected to create 400 jobs and will enable the mill to produce 97% of domestic plate products when it opens in Q4 2022.
- Addition of a blast and prime line enhances product offerings.
- New mill represents a significant $1.7 billion investment.
- Expected to create approximately 400 jobs.
- Ability to serve critical markets, including military and infrastructure.
- None.
CHARLOTTE, N.C., Nov. 18, 2021 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced today that it will be adding a blast and prime line at its greenfield steel plate mill currently under construction in Brandenburg, Kentucky. The blast and prime line will have an annual capacity of approximately 120,000 tons and will provide the Nucor Plate Group with even broader capabilities and offerings for customers of our wider and thicker plate products.
"By adding a blast and prime line to our state-of-the-art plate mill, we will be able to better serve customers in key markets, including our Nation's military, infrastructure, heavy equipment, offshore wind and other energy products," said Johnny Jacobs, Vice President & General Manager of Nucor Steel Brandenburg.
The Nucor Steel Brandenburg plate mill is a
About Nucor
Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; steel grating; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron / direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.
Forward-Looking Statements
Certain statements contained in this news release are "forward-looking statements" that involve risks and uncertainties. The words "anticipate," "believe," "expect," "intend," "project," "may," "will," "should," "could" and similar expressions are intended to identify those forward-looking statements. These forward-looking statements reflect the Company's best judgment based on current information, and, although we base these statements on circumstances that we believe to be reasonable when made, there can be no assurance that future events will not affect the accuracy of such forward-looking information. As such, the forward-looking statements are not guarantees of future performance, and actual results may vary materially from the projected results and expectations discussed in this news release. 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 pressure from imports and substitute materials; (2) U.S. and foreign trade policies affecting steel imports or exports; (3) the sensitivity of the results of our operations to prevailing market steel prices and changes in the supply and cost of raw materials, including pig iron, iron ore and scrap steel; (4) the availability and cost of electricity and natural gas, which could negatively affect our cost of steel production or result in a delay or cancellation of existing or future drilling within our natural gas drilling programs; (5) critical equipment failures and business interruptions; (6) market demand for steel products, which, in the case of many of our products, is driven by the level of nonresidential construction activity in the United States; (7) impairment in the recorded value of inventory, equity investments, fixed assets, goodwill or other long-lived assets; (8) uncertainties surrounding the global economy, including excess world capacity for steel production; (9) fluctuations in currency conversion rates; (10) significant changes in laws or government regulations affecting environmental compliance, including legislation and regulations that result in greater regulation of greenhouse gas emissions that could increase our energy costs, capital expenditures and operating costs or cause one or more of our permits to be revoked or make it more difficult to obtain permit modifications; (11) the cyclical nature of the steel industry; (12) capital investments and their impact on our performance; (13) our safety performance; and (14) the impact of the COVID-19 pandemic and any variants of the virus. These and other factors are discussed in Nucor's regulatory filings with the Securities and Exchange Commission, including those in "Item 1A. Risk Factors" of Nucor's Annual Report on Form 10-K for the year ended December 31, 2020. The forward-looking statements contained in this news release speak only as of this date, and Nucor does not assume any obligation to update them, except as may be required by applicable law.
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SOURCE Nucor Corporation
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