Charlotte, North Carolina-based Nucor Corporation announced Thursday that it plans to close its Nuconsteel division--a fabricating light gauge steel framing business with operations in Denton, Texas and Dallas, Georgia. In a press release, Nucor said that it expects to close Nuconsteel's facilities in the spring of 2012, after meeting current customer contractual obligations. Nuconsteel has been a part of the Nucor portfolio since November 2001, when it acquired Itec Steel, Inc.
Dan DiMicco, Nucor's Chairman and Chief Executive Officer, explained the decision. "The fabrication of residential and commercial light gauge steel framing does not offer the returns or scale necessary for Nucor to remain in the business," he said.