Nucor DRI facility on track, start-up costs high

Apr 25, 2014 | 11:56 AM | Thorsten Schier

Tags  Nucor, direct-reduced iron, Louisiana plant, DRI, John Ferriola, James Frias, start-up costs, Encana Thorsten Schier

NEW YORK — Nucor Corp.’s ramp-up of its direct-reduced iron (DRI) facility in St. James Parish, La., has gone well operationally, but start-up costs of $20.7 million in the first quarter were higher than anticipated, company executives said.

"From an equipment perspective, from an operational perspective, the start-up was great," chairman, president and chief executive officer John J. Ferriola said during an April 24 conference call.

Nucor is working to reduce yield loss at the facility, and start-up costs are expected to fall to between $10 million and $15 million in the second quarter, chief financial officer James D. Frias said.....

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