LOS ANGELES Nucor-Yamato
Steel Co. is a step closer to procuring local financing for a
planned expansion at its Blytheville, Ark., facility.
The Blytheville City Council
passed a resolution April 16 supporting the issuance of
municipal bonds to help finance various aspects of a proposed
$115-million expansion keyed to produce wide sheet piling,
according to Mayor James W. Sanders office.
The city must still pass an
ordinance that would create the bonds to be sold to investors.
While no date was set for a vote, local sources expect it to
take place soon.
There was no indication on the
amount of the bond issue, which would be made possible by a
state-designated program aimed at promoting industrial
According to the resolution, the
specific improvements that the bond issue would help finance
are mill stands, electrical improvements, and an automated roll
storage and retrieval system. The project would add 10 to 15
new jobs at Nucor-Yamato, a joint venture between Charlotte,
N.C.-based Nucor Corp. and Japans Yamato Kogyo Co. Ltd.,
according to local media reports.
A Nucor spokeswoman couldnt be reached for