Nucor Announces New Continuous Galvanizing Line for California Steel Industries
In an announcement yesterday, Nucor Corp. said the new galvanizing line will serve construction end markets in the western United States and comes with a US$370 million price tag.
"With recent closures of galvanizing capacity in the western region, CSI is seizing an opportunity to provide the high-quality value-added products that our customers have requested," said Leon Topalian, chair, president and chief executive officer of Nucor Corp.
CSI is a flat-rolled steel converter with the capability to produce more than 2 million tons of finished steel and steel products per year. Its product lines include hot rolled, pickled and oiled, cold rolled, galvanized, and electric resistance welded pipe. In partnership with JFE Steel, Nucor acquired a 51% stake in CSI earlier this year.
"This investment continues the strong partnership we have cultivated with JFE Steel of growing together in North America," Topalian added.
The new galvanizing line will take 30 months to construct following regulatory approvals, Nucor said.
Read the full announcement here.