Nucor Corporation announced Tuesday that it has completed its previously announced acquisition of 50 percent of the stock of Duferdofin-Nucor S.r.l. The company will continue to operate from its current headquarters in San Zeno, Italy.
"We are pleased to announce the successful creation of this new joint venture company owned equally by Duferco and Nucor," said Dan DiMicco, Nucor's chairman, CEO and president. "Nucor has been working together with Duferco to find the ideal combination of our physical and human assets. Duferdofin-Nucor combines Nucor's world-recognized know-how in the efficient production of structural shapes with Duferdofin's strong management team and strategic locations in Italy. We look forward to Duferdofin-Nucor becoming the premier supplier of beam products in Southern Europe and North Africa."
Duferdofin-Nucor S.r.l. operates a steel melting and bloom/billet caster in San Zeno, Italy as well as rolling mills in Pallanzeno in the Piedmont region and at Giammoro in Sicily. Total production in 2007 was approximately one million nt. A new merchant bar mill is under construction at the Giammoro plant and is expected to be fully operational in late 2008 with an approximate annual production capacity of 450,000 nt. The new company also includes the distribution companies of the former Duferdofin.