Nucor Corporation announced today that its Board of Directors has approved a project to upgrade the company's engineered bar mill in Nebraska to better serve the automotive market. The modernization project will include a new reheat furnace, new intermediate mill, and coil inspection and trimming station. The $58 million investment project is expected to be completed and operational in the fourth quarter of 2022.
When completed, these upgrades will enhance Nucor Steel Nebraska's ability to produce engineered bar and coil products with improved surface quality and reduced decarburization, which are required to meet high-end engineered bar automotive applications. This investment will further diversify the products supplied from Nucor Steel Nebraska. Additionally, this project will further our commitment to safety by allowing Nucor teammates to do their work away from the rolling process.