Nucor to acquire plate mill in Texas

US-based steel producer Nucor Corporation has announced that it has agreed to acquire US mining-equipment maker Joy Global’s steel plate mill in Longview, Texas, for approximately $29 million. The mill produces carbon and alloy steel plate products with heat-treating capabilities and has an annual capacity of 180,000 mt.

 

"This acquisition builds on our strategy to capture a growing share of higher value-added plate products and complements the capabilities of our two existing plate mills," said John Ferriola, chairman, CEO and president of Nucor.

 

Nucor's existing plate mills in North Carolina and Alabama have a combined capacity of 2.9 million mt per year and produce plate for manufacturers of barges, bridges, heavy equipment, rail cars, refinery tanks, ships, wind towers, armor and other markets.