Nucor Plans to Construct New Building Systems Facility in the Western United States
Posted on: Thursday, 18 May 2006, 09:10 CDT
CHARLOTTE, N.C., May 18 /PRNewswire-FirstCall/ -- Nucor Corporation announced today that it plans to construct its fourth facility to produce metal building systems and components. The facility will be located in the western United States and will have an annual capacity of approximately 45,000 tons. It is expected to cost approximately $27 million and to employ more than 200 people.
Construction is expected to begin after satisfactory resolution of site location, regulatory approvals, tax matters and various contracts. Nucor currently has building systems facilities in Indiana, South Carolina and Texas that have a combined annual capacity of more than 145,000 tons.
"We look upon this new facility as an opportunity to expand our metal building systems presence in the western United States," said Daniel R. DiMicco, Nucor's Chairman, President and Chief Executive Officer. Hamilton Lott, Jr., Executive Vice President, stated, "It has always been our intention to be a larger player in the pre-engineered metal buildings industry. The addition of this fourth plant will increase our capacity by more than 30%."
Nucor and affiliates are manufacturers of steel products, with operating facilities in seventeen states. Products produced are: carbon and alloy steel -- in bars, beams, sheet and plate; steel joists and joist girders; steel deck; cold finished steel; steel fasteners; metal building systems; and light gauge steel framing. Nucor is the nation's largest recycler.
Certain statements contained in this news release are "forward-looking statements" that involve risks and uncertainties. Factors that might cause the Company's actual results to differ materially from those anticipated in forward-looking statements include, but are not limited to: (1) the sensitivity of the results of our operations to prevailing steel prices and the changes in the supply and cost of raw materials, including scrap steel; (2) market demand for steel products; (3) energy costs and availability; and (4) competitive pressure on sales and pricing, including pressure from imports and substitute materials. These and other factors are outlined in Nucor's regulatory filings with the Securities and Exchange Commission, including those in Nucor's December 31, 2005 Annual Report on Form 10-K. The forward- looking statements contained in this news release speak only as of this date, and Nucor does not assume any obligation to update them.
Nucor Corporation
CONTACT: Nucor Executive Offices, +1-704-366-7000, or fax,+1-704-362-4208
Web site: http://www.nucor.com/
Source: PRNewswire-FirstCall
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