Nucor Corporation has announced that its Board of Directors has approved a project to upgrade the company's engineered bar mill in Nebraska. The modernisation 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.
Leon Topalian, President & CEO of Nucor Corporation, said: "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. 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."
The upgrades will enhance Nucor Steel Nebraska's ability to produce engineered bar and coil products with improved surface quality and reduced decarburisation, which are required to meet high-end engineered bar automotive applications.
Nucor Steel Nebraska has been operating since 1973 and from 2012 to 2015, has invested heavily in Nebraska to boost its production of special bar quality steel (SBQ) for the demanding engineered bar market, driven by energy, automotive, heavy truck and heavy equipment manufacturers.