The intention to build a new melt shop at one of its existing bar mills in Western U.S. was announced by the company in September last year.
SEATTLE (Scrap Monster): Nucor Corporation announced that it will add a new melt shop at its Kingman, Arizona bar mill. The mill be constructed at an expense of $100 million and will have a production capacity of approximately 600,000 tons per annum. It will create nearly 140 new full-time jobs. The construction may take up to two years, subject to receipt of necessary permits and regulatory approvals.
ALSO READ:
Nucor Anticipates 2022 to be the Most Profitable Year in History
Nucor Corporation Declared Acquisition of Steel Structures Manufacturer
The intention to build a new melt shop at one of its existing bar mills in Western U.S. was announced by the company in September last year. Nucor came to the conclusion that Kingman bar mill is the ideal location for the project, mainly because it is a rolling mill that converts steel billets into coiled wire rod and rebar but lacks a melt shop. Incidentally, Nucor operates a total of 15 bar mills that are strategically located across the country.
Commenting on the investment, Leon Topalian, President and Chief Executive Officer, Nucor Corporation said that the investment in a new melt shop at its Arizona bar mill is part of the company’s strategy to grow its core steelmaking business. It will help it to maintain its market leadership position in steel bar production. Additionally, the addition of new melt shop capacity will help to meet the growing demand for steel bar products in the Western region, he added.
Image and article originally from www.scrapmonster.com. Read the original article here.