CHARLOTTE, N.C. — Nucor Corp. announced Wednesday that its board of directors had approved a project to upgrade the company's engineered bar mill in Norfolk, according to information on the company’s website.
The upgrade is to better serve the automotive market and continue to meet its customers' needs for the highest quality products, according to Nucor. The modernization project will include a new reheat furnace, new intermediate mill and coil inspection and trimming station.
The $58 million investment project is expected to be completed and operational in the fourth quarter of 2022.
"The upgrades we are making to our engineered bar mill in Nebraska are part of our efforts to continue to grow the number of tons we sell to the automotive market," said Leon Topalian, president and CEO of Nucor Corp. "This investment is part of our greater commercial strategy to align our product mix with current and future demand of our customers and will reinforce Nucor as a leader in engineered bar and rod."
When completed, these upgrades 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, according to Nucor.
“This investment will further diversify the products supplied from Nucor Steel Nebraska. Additionally, this project will further our commitment to safety by allowing Nucor teammates to do their work away from the rolling process,” according to information on the company website.
Located in Norfolk, Nucor Steel Nebraska has been operating since 1973 and employs 500.
From 2012 to 2015, Nucor invested heavily in Nebraska to boost its production of special bar quality steel for the demanding engineered bar market, driven by energy, automotive, heavy truck and heavy equipment manufacturers.
Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Among the products manufactured are: carbon and alloy steel — in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; steel grating; and wire and wire mesh.
Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron/direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor also is North America's largest recycler.