Nucor Corporation announced today that the company's Board of Directors approved $280 million to modernize its steel plate mill in Tuscaloosa, Alabama. The company said the investment will enable Nucor Steel Tuscaloosa to strengthen its ability to serve key market segments that are part of the overall Plate Mill Group strategy.
"We continuously invest in our teammates and facilities where we see opportunities to create value for our customers. This modernization project will bolster the plate group's position as the most diverse and comprehensive product mix in the industry," said Al Behr, Executive Vice President for Plate and Structural Products.
"Our Plate Mill Group team has done a phenomenal job executing our strategic shift and greatly improving the profitability of our plate mills. The modernization and upgrade of the rolling mill at Tuscaloosa is an important investment that will keep our mill competitive in the global steel industry and open up new market opportunities for our team. We appreciate the support we have received from the Tuscaloosa County Economic Development Authority for this project," said Brian Phillippi, Vice President and General Manager of Nucor Steel Tuscaloosa.
Comprised of three production facilities located in Hertford County, North Carolina, Brandenburg, Kentucky and Tuscaloosa, Alabama, Nucor's Plate Mill Group has an annual capacity of approximately 3 million tons of cut-to-length and discrete plate. Nucor produces plate for military applications and for manufacturers of barges, bridges, heavy equipment, rail cars, refinery tanks, ships, wind towers and other items that are primarily used in the pipe and tube, pressure vessel, transportation and construction industries.