Nucor Eyes Sites in Pa., Ohio, W.Va., for $2.7B Sheet Mill
CHARLOTTE, N.C — Nucor Corp. says it is evaluating locations in Ohio, Pennsylvania and West Virginia to construct a $2.7 billion, 3 million ton sheet mill.
The new mill will be geographically situated to serve customers in the Midwest and Northeast markets and will have a significantly lower carbon footprint than nearby competitors, the company said.
“This greenfield sheet mill complements Nucor’s existing operations, allowing us to more effectively service customers in the region, and grow our core business, while creating substantial value for our shareholders. Consistent with Nucor’s long-established strategy for profitable growth, this expansion of our product capabilities will enable us to provide a superior value proposition to our customers,” said Leon Topalian, president and CEO. “This mill will allow us to competitively meet the growing need that many of our customers, particularly in the automotive market, have for high quality steel with a lower carbon footprint.”
The new sheet mill will be able to produce hot-rolled sheet products with downstream processing including a tandem cold mill, annealing capabilities and initially two galvanizing lines. Galvanizing capabilities will include an advanced high-end automotive line with full inspection capabilities as well as a construction-grade line. Once state and local incentives, permitting and other regulatory approvals are received, construction is expected to take two years.
“The green and digital economy is being built with steel, and Nucor, as one of the cleanest steel makers in the world, is poised to be able to meet these unique opportunities,” Topalian said.
Nucor and its affiliates manufacture steel and steel products, with operating facilities in the United States, Canada and Mexico. It is North America’s largest recycler.
SOURCE: Nucor Corp.
Copyright 2023 The Business Journal, Youngstown, Ohio.