Nucor to up wire rod, SBQ output at three mills

Jan 25, 2012 | 05:40 PM | Corinna Petry

Tags  Nucor, special bar quality, wire rod, Daniel DiMicco, Michelle Applebaum, Steel Market Intelligence, Timken, Gerdau Special Steel North America Republic Steel

CHICAGO — Nucor Corp. has approved a capital budget of $290 million to expand special bar quality (SBQ) and wire rod capacity by a combined 1 million tons at three steel mills by the end of 2013, the Charlotte, N.C.-based steelmaker said.

"We are excited about these new investments in a strategic and growing segment of our bar mill business," Nucor chairman and chief executive officer Daniel R. DiMicco said in a statement, noting that going forward the company continues to see strength in the engineered bar markets, driven by energy, automotive, heavy truck and heavy equipment manufacturers.

"We believe that manufacturing growth in the U.S. will allow the SBQ markets to continue to grow over the next several years," he added.....

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