Nucor Corporation NUE recently announced that its Board has provided approval to upgrade the engineered bar mill in Nebraska. This project is being undertaken to better serve the automotive market and continue to meet the consumers’ need for highest-quality products.
The project will include a new reheat furnace, new intermediate mill, and coil inspection and trimming station. The project, worth $58-million investment, is expected to be completed and operational in fourth-quarter 2022.
On completion, the upgrade will enhance Nucor Steel Nebraska's ability to produce engineered bar and coil products with improved surface quality and reduced decarburization, which are required to meet high-end engineered bar automotive applications.
The investment will also facilitate diversification of products supplied by Nucor Steel Nebraska. Moreover, this project will further its commitment to safety by enabling Nucor teammates to work away from the rolling process.
The investment is part of Nucor’s greater commercial strategy to align its product mix with current and future demand of the customers and will strengthen Nucor’s position as a leader in engineered bar and rod, the company noted.
Read More: Finance.yahoo.com
Comments
Post a Comment