Steel Mills
Nucor Planning Expansion in Arkansas
Written by Sandy Williams
September 17, 2016
Nucor Steel Arkansas is planning a $230 million expansion at its Blytheville steel plant according to the Blytheville Courier News.
Nucor Controller Mark DiGirolamo addressed the Blytheville City Council’s Finance and Purchasing Committee on Wednesday to seek a bond from the city to finance construction of a cold mill at the plant.
According to the Courier News, Nucor is requesting a bond for $250 million. The cold mill could be up and running in two years, said DiGirolamo, and would employ 100 workers at a wage of $80,000 per year. The project is expected to make Nucor more competitive in the automotive market.
Nucor declined to comment on the report. A spokesperson for Nucor said in an email to Steel Market Update, “We are unable to comment on any potential investment. However, we are constantly evaluating unique market opportunities. If the right opportunity comes along, it has to fit our long-term growth strategy and provide the right return on the investment of our shareholders’ valuable capital.”
The Courier News reports that Blytheville City Council will consider the proposal on Tuesday, Sept. 20. If approved, Nucor plans to request that the bond be presented for passage at the Council’s December meeting.
Nucor is located approximately 25 miles from the site of new competitor Big River Steel which is scheduled to begin production later this year.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
American mills urge Trump to maintain no exceptions on steel tariffs
"We urge you to resist any requests for exceptions or exclusions and to continue standing strong on behalf of American steel," the companies wrote.
Cliffs CEO touts employee cash bonus for buying US-made vehicles
Cleveland-Cliffs Inc. has introduced a new employee incentive program to promote American-made vehicles, support domestic production, and strengthen US supply chains.
Auction of AHMSA assets is next step in bankruptcy proceedings
An inventory valuation of the assets of Altos Hornos de Mexico SA (AHMSA) has been completed. Local reports suggest an auction for the assets of the bankrupt steel company could come as soon as the end of this month.
US mills increase shipments in January
AISI reported a 4.1% rise in US steel mill shipments from December to January.
Reports: Algoma Steel halts US shipments, plans layoffs in wake of tariff war
Facing an uncertain tariff trade war, Algoma Steel took action this week, halting steel shipments to the US, laying off employees, and prepping for an unknown future, according to local media reports.