Nucor Approved Investment in New Rebar Micro Mill

SEATTLE (Scrap Monster): Charlotte, N.C.-based Nucor Corporation announced that its Board of Directors has approved a funding of $860 million towards construction of a new rebar micro mill in the Pacific Northwest.

According to the company press release, the proposed mill would be the fourth and largest ever rebar micro mill by the company. The projected capacity of the mill is 650,000 tons per year. The project is expected to be completed within a period of 24 months, subject to obtaining necessary regulatory permits. The potential locations to set up the facility are being evaluated, the company said.

The new mill will have 50% more capacity than the mill which is currently under construction in North Carolina. Currently, Nucor has 15 bar mills across the country, manufacturing a broad range of steel products for various markets. The company’s bar mill capacity totalled around 9.6 million tons as at the end of the previous year.

Announcing the decision, Leon Topalian, Chair, President and Chief Executive Officer of Nucor hoped that the new rebar micro mill in the Pacific Northwest will help the company maintain its leadership in the steel bar market. In addition, it will help the company to better serve its customers west of the Rocky Mountains.

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