Nucor to set up plate mill in U.S. Midwest for $1.35 billion

[turbinetree]

BUSINESS NEWS JANUARY 7, 2019 / 6:47 AM / UPDATED 2 HOURS AGO

(Reuters) - Steel producer Nucor Corp (NUE.N) said on Monday it would spend about $1.35 billion to build a plate mill in the U.S. Midwest, taking advantage of federal tax cuts that has resulted in windfall gains for several companies.

Nucor is also benefiting from higher steel prices for domestic producers due to tariffs imposed on imports by the Trump administration last year.

The new mill, which is expected to be fully operational in 2022, would produce 1.2 million tons a year of steel plate products and create about 400 full-time jobs, the company said.

“Tax reform, continued improvements to our regulatory approach and strong trade enforcement are giving businesses like ours the confidence to make long-term capital investments here in the United States,” Chief Executive Officer John Ferriola said in a statement.

Nucor currently operates plate mills in North Carolina, Alabama and Texas.

https://www.reuters.com/article/us-nucor-mill/nucor-to-set-up-plate-mill-in-u-s-midwest-for-1-35-billion-idUSKCN1P10ZC

Biggest anti-union firms in the country and they also like to do this....................and also the most deadliest

https://nwlaborpress.org/1997/nucor.html

[ewagner]

1. .uuuummmmmmm

WHERE IN THE MIDWEST!

The lack of specificity in the release bothers me...it sounds like what we used to call "BS"

It's corporate public relations and just happens to be supportive of the tariffs that Trump is getting killed on by other company releases...

e.g. a company that uses a lot of aluminum for building lights for the auto industry announced today that they are moving to Mexico because of the tariffs...

[harumph]

2. 400 jobs is well... not nothing... but close.