Nucor’s board of directors gave the green light to begin upgrading the steelmaker’s Nebraska engineered bar mill to offer enhanced service within the auto market and to improve in meeting consumer requests for top-quality products.
The development valued at $58mn is scheduled to be completed and in operation by Q4 2022. The diversification plan will cover a new intermediate mill and a new melting furnace along with a coil inspection and trimming station.
Nucor also mentioned this expansion to the engineered bar mill will allow the company to increase steel tonnage sold into the auto industry by aligning its product mix with customer demand for bar and rod.
The improvements will boost the steel producer’s capacity for engineered bar and coil products with better surface quality and lowered decarburization, as needed in engineered bar automotive products.
Nucor’s site in Norfolk, Nebraska employs 500 workers and has operated since 1973. Between 2012-2015, the company focused on Nebraska to increase special bar quality steel output to meet engineered bar market demand, as driven by energy, auto, heavy truck, and heavy equipment producers.