Germany-based Klöckner & Co. has announced that it will invest in building a heavy plate processing facility on the premises of US-based Nucor Corporation’s new steel mill in Brandenburg, Kentucky, as part of its efforts to expand its partner network and its footprint in the US market. The new heavy plate processing facility is scheduled to commence production operations in the third quarter of 2023.
The investment by Klöckner is designed to drive the development of sustainable and innovative solutions for the entire supply chain and to extend the range of higher-value-added services.
In addition, the company has reported a net income of €323 million in the first six months this year, compared to a net income of €301 million in the same period of the previous year, while its sales revenues increased by 48.8 percent year on year to €5 billion. According to its statement, Klöckner expects significant sales growth in the full year 2022, due to anticipated higher average steel price levels.