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Nucor (NYSE:NUE) unveiled plans Thursday to construct a brand new rebar micro mill in North Carolina, which could have an annual capability of 430K tons and is predicted to value $350M.
Nucor already has micro mills in Missouri and Florida that produce rebar, which is used primarily in concrete reinforcement for the development of roads, buildings, bridges and different constructions.
“Nucor Metal Lexington will produce metal with practically 100% recycled content material, which implies our new, trendy infrastructure will likely be made with essentially the most sustainable metal out there anyplace on the planet,” President and CEO Leon Topalian stated.
Development is predicted to take two years, pending allow and regulatory approvals.
Earlier this week, Nucor agreed to purchase metal racking producer Elite Storage Options in a $75M deal.
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