The new line will serve the expanding western U.S. construction end markets.
SEATTLE (Scrap Monster): Nucor Corporation announced that California Steel Industries, Inc. (CSI) will invest in building a continuous galvanizing line at its mill in Fontana, California. CSI is a partnership between Nucor and Japanese steelmaker JFE Steel. It must be noted that Nucor had recently acquired 51% stake in CSI.
According to company press release, the planned investment for the project is around $370 million. The construction phase may extend up to 2.5 years, following receipt of necessary regulatory approvals.
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The proposed galvanizing line will have a capacity of 400,000 tons per annum, which in turn will lift CSI’s total hot dip galvanizing capacity to 1.2 million tons per annum. The new line will serve the expanding western U.S. construction end markets.
Commenting on the development, Leon Topalian, Chairman, President and Chief Executive Officer of Nucor Corporation noted that the investment demonstrates the continuation of the strong partnership with JFE Steel of growing together in North America. This will help CSI to seize the opportunity to offer high-quality value-added products to customers in western U.S. region, which has witnessed closures of galvanizing capacity recently.
CSI, with five product lines, has an annual production capacity of more than 2 million tons of finished steel and steel products.
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