Steel Mills
Nucor Acquires Castings Company in Mexico
Written by Sandy Williams
November 29, 2018
Nucor is increasing its presence in Mexico with the acquisition of Corporacion POK, a fully integrated precision castings company with a facility in Guadalajara.
“Our company has had a presence in Mexico for more than a decade. We know the market and the customers there. This acquisition supports Nucor’s strategy in Mexico, which is focused on downstream processing for high-quality, value-added applications targeting niche markets,” said John Ferriola, Chairman, CEO and President of Nucor Corp. “Expanding our capability to produce value-added products is a key component of our strategy for long-term profitable growth.”
POK employs 425 people at its Guadalajara facility and produces a wide array of precision castings using steel, bronze, iron and specialty exotic alloys. POK’s products are used by the oil and gas, mining and sugar processing industries. The acquisition will enable Nucor to broaden its current product offerings and expand sales in new and existing markets.
Nucor’s other Mexican holdings include Nucor ATP, a cold finishing facility in Monterrey, Mexico, as well as several sheet steel processing centers as part of its Steel Technologies joint venture with Mitsui & Co. The company is also partnering with Japan’s JFE Steel Corp. to build a galvanizing line to serve the Mexican automotive market.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Nucor upbeat on progression of flat rolled expansions
Nucor isn’t overly concerned with low utilization rates or an oversupplied market, as its investment strategy is for the long term, executives reminded investors on Tuesday.
Nucor Q3 profit falls sharply on lower steel prices, further drop seen in Q4
Nucor's profits dropped precipitously in the third quarter on lower prices in its steel mills segment as the company expects a continued earnings slide for Q4'24.
Nucor holds HR base price at $720/ton
Nucor is holding its hot-rolled coil consumer spot price at $720/short ton this week.
Nucor commissions SMS group to upgrade Alabama plate mill
Nucor Corp. has commissioned SMS group to upgrade its Tuscaloosa, Ala., plate mill.
SDI presses on with steel, aluminum investments
Steel Dynamics Inc. remains optimistic about its prospects as it ramps up flat-rolled steel operations and prepares for the production of aluminum products next year. Executives from the Fort Wayne, Ind.-based steelmaker provided an update on the company’s operations on a conference call on Thursday held to discuss SDI’s third-quarter earnings results.