Nucor mulling growth opportunities

Jul 24, 2014 | 07:15 PM | Michael Cowden

Tags  Nucor, John Ferriola, Severstal, Columbus mill, Steel Dynamics, SDI, mergers and acquisitions, ArcelorMittal Calvert plant

CHICAGO — Nucor Corp. continues to mull acquisitions, but won’t aim to add more sheet capacity, its top executive said.

"We’re still leaning toward buy rather than build, simply because of the capacity that already exists. We don’t see any sense in adding to it," Nucor chairman, president and chief executive officer John J. Ferriola said during an earnings call with analysts July 24, noting that the company could eye expansion into other products.

"The world is our oyster. We’ve got a great balance sheet," he said, noting that Nucor has completed or is close to wrapping up several long-term projects and is eyeing new opportunities.

"We are in a position where we will again be rather aggressive in growing the company, possibly in some new directions," he said, noting that there have been opportunities that Nucor might find attractive, other than OAO Severstal’s North American assets.....

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