Nucor invests

Nucor Corporation (Charlotte, NC) is making several investments to insure future growth and profitability. The company has announced plans to purchase two steel companies for a combined price of USD 620 million and has embarked on an ambitious capital improvement programme at its steel bar group mills for USD 200 million. The company is also continuing to invest in new technology and steel production facilities and is nearing construction completion of its USD 150 million CastripTM mill in Crawfordsville, Indiana. The mill will utilise new technology to produce cast strip steel products and is expected to start-up in May of 2002.
The company has embarked on a substantial expansion of its steel bar making capability, with the announcement of USD 200 million in expansion and modernisation at its steel bar mills across the country. Most recently, Nucor has offered to purchase the steel bar mill assets of Birmingham Steel for USD 500 million. Birmingham Steel Corporation has not accepted the buy-out offer.

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