Nucor Corporation’s (NYSE: NUE) Board of Directors has approved an expansion project which will add a coil paint line at the company’s sheet mill in Mississippi County, Arkansas. The new coil paint line will have a capacity of 250,000 tons per year and is expected to start up in the first half of 2022.
“The new coil paint line will diversify our product and market mix by adding additional processing capability and will allow us to expand the value-added products we offer. We will be able to compete in new markets, such as roofing and siding, light fixtures and appliances, as well as strengthen our existing market position in HVAC, garage doors and service centers,” said Jay Henderson, Vice President & General Manager of Nucor Steel Arkansas. “This new line will also improve the quality and service we can provide to our pre-paint customers.”
Nucor Steel Arkansas opened in 1992 and produces approximately 2,600,000 tons of hot-rolled sheet steel for automotive, appliance, construction, pipe and tube and many other applications. This capital investment will allow the mill to build a high-quality continuous coil coating line that will have a thickness range of 0.010 to 0.065 inches and widths of 35 to 72 inches. Nucor Steel Arkansas recently completed construction of a new speciality cold mill complex and is currently building a new galvanizing line which will begin operating in 2021.
“This latest Nucor expansion in Mississippi County adds to their lines of quality products that are in demand across the country and the globe. Arkansas is proud to have Nucor recognized as a leading steel products producer, and we’re proud of how the Arkansas workforce contributes to that distinction,” said Arkansas Governor Asa Hutchinson.
Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the U.S., Canada and Mexico. 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; precision castings; 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 hot briquetted iron / direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America’s largest 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) U.S. and foreign trade policies affecting steel imports or exports; (3) the sensitivity of the results of our operations to prevailing steel prices and changes in the supply and cost of raw materials, including scrap steel; (4) market demand for steel products; and (5) energy costs and availability. These and other factors are discussed in Nucor’s regulatory filings with the Securities and Exchange Commission, including those in Nucor’s fiscal 2018 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, and Nucor does not assume any obligation to update them.
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