Steel Mills
Duferco to Acquire All of Duferdofin-Nucor Venture
Written by Sandy Williams
November 13, 2020
The Italian joint venture Duferdofin-Nucor is coming to an end after a 12-year partnership. Duferco will repurchase Nucor’s 50 percent share of the company, becoming exclusive owner of the steel beam operations.
Duferco also announced it will invest EU 180 million ($213 million) for a new rolling mill at the plant in San Zeno Naviglio, Brescia. The new mill will add 150 jobs to the region and strengthen Duferco’s standing as a leading producer of structural steel shapes.
“Being in partnership with the first American steel producer for such a long time has been a real honor for Duferco. We sincerely thank the Nucor people who worked with us during these years, helping the company improve continuously its technical and productive performances,” said Antonio Gozzi, president of Duferco Italia Holding.
Duferdofin-Nucor produces steel beams and has an annual capacity of more than one million tons per year. The transaction is expected to close at the beginning of December, subject to approval by the European Authority for Competition.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
CRU: Tata Steel looks to shed 1,600 jobs in the Netherlands
The company said, “The challenging demand conditions in Europe driven by geopolitical developments, trade and supply chain disruptions and escalating energy costs have affected the operating costs and financial performance."
Reports: Federal funding for Cliffs’ project could be slashed
Elon Musk's DOGE is determining which Department of Energy grants to advance and which ones to terminate, according to several media outlets
Trump still against selling USS to Japanese firm: Report
Despite ordering a new review of Nippon Steel’s bid for U.S. Steel, President Trump said he is still against selling USS to a Japanese company, according to media reports.
Algoma looks to sell more steel in Canada in wake of Trump’s tariffs
The Canadian steelmaker said its absorbing higher tariffs as it moves forward.
Ancora abandons plan to take over leadership of USS
Investment firm Ancora Holdings Group has halted its play for U.S. Steel's board, citing Nippon Steel’s proposed bid for USS “gaining momentum.”