Nucor quits Italian JV Duferdofin-Nucor, Duferco to sole owner

Friday, 13 November 2020 17:29:38 (GMT+3)   |   Brescia

After 12 years, the Duferdofin-Nucor joint venture between Duferco Italia Holding and Nucor Europe has come to an end. The company, the first Italian steel beam producer, has four production units in San Zeno Naviglio (Brescia), Giammoro (Messina), San Giovanni Valdarno (Arezzo) and Pallanzeno (Verbania).

The two partners have reached an amicable understanding according to which Duferco will repurchase the 50 percent stake currently held by Nucor, becoming the sole owner of the company.

Duferco, however, underlined that it will maintain its investment in the new beam rolling line at the San Zeno Naviglio plant, adding that the name of the technological partner that will be responsible for its construction will be announced in the coming days. The investment exceeds €180 million, will create 150 new jobs, and should allow Duferco to play an even more important role in European structural steel profiles productions.

Antonio Gozzi, president of Duferco Italia Holding, said, "It was a great honor for Duferco to be a partner for such a long period with the number one American steel producer" and thanked "with affection and gratitude all the men of Nucor who in recent years followed the joint venture, helping the company to continuously improve its technical and production performance."

 The financial closure of the operation is set for the first days of December, once the green light has been obtained from the European antitrust authorities.