US steelmaker Nucor Corporation has agreed to acquire Joy Global's steel plate mill in Longview, Texas, for approximately $29 million. The mill produces carbon and alloy plate products with heat-treating capabilities and has an annual capacity of 180kt.
John Ferriola, chairman, CEO and president of Nucor, said that the acquisition builds on the company's strategy to capture a growing share of higher value-added plate products and complements the capabilities of Nucor's two existing plate mills. "The Longview mill will serve as a valuable addition to Nucor's plate product offerings, which we believe can be further leveraged by our Nucor commercial team," he said.
The mill produces speciality plate products with the capability of producing plate that can range from 1 to 12 inches thick and up to 138 inches wide. Approximately 140 non-unionised workers are employed at the Longview mill.
Nucor's existing plate mills in North Carolina and Alabama have a combined capacity of 2.9 Mt/yr. The company's existing mills produce plate for manufacturers of barges, bridges, heavy equipment, rail cars, refinery tanks, ships, wind towers, armour and other markets. Nucor plate products are also used in the pipe and tube, pressure vessel, transportation and construction industries.
Nucor and its affiliates are manufacturers of steel products, with operating facilities primarily in the USA and Canada. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; steel grating; and wire and wire mesh. Nucor, through The David J. Joseph Company, brokers ferrous and non-ferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and non-ferrous scrap and is North America's largest recycler.