January 16, 2007
Nucor Announces Start-Up of Production of DRI in Trinidad
CHARLOTTE, N.C., Jan. 16 /PRNewswire-FirstCall/ -- Nucor Corporation announced today that the heat up of the direct reduced iron ("DRI") facility, Nu-Iron Unlimited, commenced on December 5, 2006, followed by the start-up of DRI production on December 30, 2006. This DRI facility is located in Point Lisas, Trinidad. In the second week of production, the Nu- Iron team completed a five-day performance test surpassing an average production of 220 tons per hour, achieving excellent metallization and producing DRI containing more than 2% carbon.
"We are extremely pleased with the start-up of Nu-Iron in Trinidad, as it represents the largest current component of our strategy to control six to seven million tons per year of high quality metallics for the Nucor steel mills," said Dan DiMicco, Nucor's Chairman, President and Chief Executive Officer. "Our team in Trinidad from construction to operations has done an outstanding job relocating and expanding the capabilities of the plant."
Joe Rutkowski, Executive Vice President of Business Development, added, "Midrex has informed us that, in their experience, this is one of the quickest plant ramp-ups from heat up to full production. We have produced over 50,000 tons of high quality DRI and are very proud of Nu-Iron's progress. We expect to ship our first vessel to Nucor mills this week."
In September 2004, Nucor acquired the Louisiana assets of American Iron Reduction ("AIR"), a 1.4-million-tons-per-year DRI plant utilizing MIDREX(R) MEGAMOD technology. Nucor relocated the assets to Point Lisas, Trinidad, in 2005 and increased the capacity to 2.0 million tons per year. The Trinidad site benefits from a low cost supply of natural gas and favorable logistics for receipt of Brazilian iron ore and shipment of DRI to the U.S.
Nucor and affiliates are manufacturers of steel products, with operating facilities in nineteen 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.
CONTACT: Nucor Executive Offices, +1-704-366-7000, or fax,+1-704-362-4208
Web site: http://www.nucor.com/