Sources: Nucor Corp., Charlotte, N.C.; CP staff
Nucor will strengthen its position as a top concrete reinforcing steel producer with the construction of a Frostproof, Fla., micro mill equipped for up to 350,000 tons/year output. It announced the $240 million investment less than four months after committing a similar outlay for a rebar micro mill in Sedalia, Mo.
Of the latest project, says Nucor Chairman Joseph Ferriola, “We are building in a great and growing market where demand is strong and there is currently an abundant supply of scrap, a good portion of which is handled by our scrap business, The David J. Joseph Company. Consistent with our planned strategy of being a low-cost producer, this mill will give us a cost advantage over competitors who are shipping rebar into the region from long distances.”
While acknowledging state and local officials plus other parties assisting in the project, Executive Vice President of Merchant and Rebar Products Dave Sumoski adds, “Identifying the right location is an essential part of our rebar micro mill strategy, and this part of central Florida met all the criteria we evaluate.”
The Florida micro mill has a projected two-year construction schedule and stands to employ approximately 250 at an average annual salary of $66,000.