The Duferdofin-Nucor JV is set to be terminated, as Duferco agrees to reacquire the 50pc which currently belongs to Nucor. The financial closing of the entity is expected in early December with proper authorization from the European Authority for Competition. The transaction amount has not been disclosed.
Duferco Italia Holdings will continue the €180mn ($213mn) investment toward the new rolling mill in the Brescia plant. Details of the expansion will be divulged shortly. The investment will integrate the operations and allow steel produced by the melt shop to be supplied to the new rolling mill. The rolling mill was announced in May 2019 and is expected to be fully operational by mid-2022.
The JV formed the 1mn mt capacity Brescia plant, which became the first producer of construction steel beams in Italy.