Nucor Fastener acquires coil processing facilities to expand scale

2021-11-04 02:48:13 By : Mr. Carl Bian

Charlotte, North Carolina, October 6, 2021/PRNewswire/ - Nucor Corporation (NYSE: NUE) today announced that it is in the process of acquiring Shelbyville’s existing state-of-the-art volume Wood processing facility to expand its Nucor Fastener Division, Indiana. The facility includes an automatic cleaning and coating line, 2 STC® furnaces and wire drawing function. In addition to coil processing, the company will also expand its fastener manufacturing capabilities by installing bolt manufacturing equipment at the Shelbyville plant. This new business will initially employ approximately 33 team members and may double these jobs when it reaches full capacity.

"We are very happy to grow our fastener division by acquiring these assets," said Joey Loosle, general manager of Nucor Fasteners. "Adding bolt manufacturing capacity to the Shelbyville plant will help expand our products into the automotive, heavy-duty truck, industrial/MRO and structural fastener markets. Nucor Fastener is already a leader in the field of steel fasteners. This expansion will further strengthen this position."

By recycling steel in electric arc furnaces, Nucor is one of the cleanest steel producers in the world, and its greenhouse gas emissions are one-third of the global steelmaking average and nearly one-fifth of the average blast furnace steel producer one. Nucor's fastener products are made of 97% recycled content, which is more sustainable than fasteners produced using overseas blast furnace steel.

With the recently announced Nebraska engineering bar mill upgrade, this new facility will enable Nucor to better serve the automotive cold heading quality (CHQ) market and provide customers with the highest quality products. The Shelbyville plant will enable Nucor Engineered Bar Group to provide processed coils with superior surface quality for the most demanding automotive CHQ applications.

About Nucor Fastener Nucor Fastener is a division of Nucor Corporation. Located in San Joe, Indiana, Nucor Fastener has been operating since 1986 and has approximately 240 employees. Nucor Fastener produces alloy steel hex head screws, heavy hex bolts and nuts, and Tru-Tension® components. Nucor fasteners are used in a wide range of markets, including automobiles, machine tools, agricultural implements, construction and military applications.

About Nucor Nucor and its affiliates are manufacturers of steel and steel products, with operations in the United States, Canada and Mexico. The products produced include: carbon steel and alloy steel-bars, beams, sheets and plates; hollow structural profiles and pipes; electrical conduits; steel frames; steel piles; steel joists and joists; steel decks; precast concrete reinforcement; cold working Steel; precision castings; steel fasteners; metal construction systems; insulated metal plates; steel gratings; and barbed wire. Through The David J. Joseph Company, Nucor also acts as an agent for ferrous and non-ferrous metals, pig iron and hot briquette iron/direct reduced iron; supplies ferrous alloys; and processes ferrous and non-ferrous metal scraps. Nucor is the largest recycler in North America.

Certain statements contained in this press release are "forward-looking statements" that involve risks and uncertainties. "Expect", "believe", "anticipate", "intend", "project", "may", "will", "should", "may" and similar expressions are intended to identify these forward-looking statements. These forward-looking statements reflect the company’s best judgment based on current information. Although we have made these statements based on what we believe to be reasonable, we cannot guarantee that future events will not affect the accuracy of such forward-looking statements-looking for information . Therefore, forward-looking statements are not a guarantee of future performance, and actual results may differ materially from the expected results and expectations discussed in this press release. Factors that may cause the company's actual results to differ materially from the expected results in the forward-looking statements include, but are not limited to: (1) competitive pressure on sales and pricing, including pressure from imports and alternative materials; (2) influence on steel import and export The United States and foreign trade policies; (3) the sensitivity of our business performance to current market steel prices and raw material supply and cost changes, including pig iron, iron ore and scrap steel; (4) the availability and cost of electricity and natural gas, which may Negatively affect our steel production costs, or cause the delay or cancellation of existing or future drilling in our natural gas drilling plan; (5) key equipment failures and business interruptions; (6) market demand for steel products, as far as many of our In terms of products, this is driven by the level of non-residential construction activities in the United States; (7) The recorded value of inventory, equity investment, fixed assets, goodwill or other long-term assets is impaired; (8) Uncertainty surrounding the global economy , Including overcapacity of world steel; (9) fluctuations in currency exchange rates; (10) major changes in laws or government regulations that affect environmental compliance, including laws and regulations that lead to stricter monitoring of greenhouse gas emissions, which may Will increase our energy costs, capital expenditures and operating costs or cause one or more of our licenses to be revoked or make it more difficult to obtain license modifications; (11) the cyclicality of the steel industry; (12) capital investment and its impact The impact of our performance; (13) our safety performance; (14) the impact of the COVID-19 pandemic and any variants of the virus. These and other factors are discussed in Nucor’s regulatory filing with the U.S. Securities and Exchange Commission, including the contents of “Item 1A. Risk Factors” of Nucor’s Annual Report on Form 10-K for the year ended December 31, 2020. . Forward-looking statements The content contained in this press release is made only on this date, and Nucor does not undertake any obligation to update them unless required by applicable law.

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