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Trump Trade War - Nucor to build rebar micro mill in Florida

Steel News - Published on Tue, 13 Mar 2018

Image Source: iti.com
Nucor Corporation announced that it will build a rebar micro mill in Frostproof, Florida, which is located in Polk County. The rebar micro mill is expected to employ approximately 250 people and pay an average annual salary of $66,000. The micro mill will have an estimated annual capacity of 350,000 tons and construction is expected to take two years, pending permit and regulatory approvals.

This is a $240 million investment and is the second rebar micro mill Nucor is constructing. In November 2017, Nucor announced a rebar micro mill project in Sedalia, Missouri.

John Ferriola, Chairman, CEO & President of Nucor Corporation, said "Nucor has always focused on growing our business to better serve our customers. We are building this rebar micro mill 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 micro mill will give us a cost advantage over our competitors who are shipping rebar into the region from long distances."

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Posted By : Rabi Wangkhem on Tue, 13 Mar 2018
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