Nucor Finalizes European Joint Venture with Duferco
Operations will produce, distribute 900,000 mtpy of steel beams
Operations will produce, distribute 900,000 mtpy of steel beams
Nucor Corp. has finalized plans for its joint-venture beam manufacturing operation in Italy with Duferco S.A., a project announced in January. The steelmaker estimates its investment at $658 million, which includes a 50% share in Duferco’s existing operations at San Zeno, Pallanzeno, and Giamorro, Italy, as well as a comparable interest in the distribution of the finished products.
Charlotte-based Nucor is North America’s highest-volume producer of steel beams. Duferco, based in Switzerland, is a producer and distributor of flat and long products.
"Since our earliest contacts with Nucor, we have experienced a complete agreement on business vision, which is a fundamental basis for the success of any venture,” stated Duferco chairman Bruno Bolfo.
Duferdofin-Nucor S.r.l., the new joint venture, will produce more than 900,000 metric tons/year of structural steel products at the three plants, and distribute them across Europe and North Africa. The venture also will include a new merchant bar mill, now under construction at Giamorro. Nucor reports the partners are reviewing additional investments.
Nuor chairman and CEO Dan DiMicco stated "Both companies have a similar focus on both customer service and working together as a team. We look forward to working even more intensively together through the closing of this deal and into the exciting times ahead. We are convinced that, working together, Nucor and Duferco will reach new heights of achievement in customer service for the full range of beam and structural products."
Charlotte-based Nucor is North America’s highest-volume producer of steel beams. Duferco, based in Switzerland, is a producer and distributor of flat and long products.
"Since our earliest contacts with Nucor, we have experienced a complete agreement on business vision, which is a fundamental basis for the success of any venture,” stated Duferco chairman Bruno Bolfo.
Duferdofin-Nucor S.r.l., the new joint venture, will produce more than 900,000 metric tons/year of structural steel products at the three plants, and distribute them across Europe and North Africa. The venture also will include a new merchant bar mill, now under construction at Giamorro. Nucor reports the partners are reviewing additional investments.
Nuor chairman and CEO Dan DiMicco stated "Both companies have a similar focus on both customer service and working together as a team. We look forward to working even more intensively together through the closing of this deal and into the exciting times ahead. We are convinced that, working together, Nucor and Duferco will reach new heights of achievement in customer service for the full range of beam and structural products."
