North Carolina-based Nucor Corp. (NYSE: NUE) says it plans to invest $290 million to expand production capabilities at its Crawfordsville steel sheet mill and create 80 new jobs. The steel fabricator says it will add a construction grade continuous galvanizing line and a pre-paint line.
The company the mill, and six others like it, produce flat-rolled steel for automotive, appliance, construction, and other industrial and consumer applications.
The construction grade continuous galvanizing line will have a capacity of 300,000 tons per year.
“Investing in Nucor Steel Indiana will allow us to grow our profitability in the Midwest construction region and expand Nucor’s prepaint footprint,” said Rex Query, Executive Vice President of Sheet and Tubular Products for Nucor Corporation. “This investment is part of our strategy to grow our core steel businesses and expand our portfolio of value-added products.”
Nucor says it is seeking state and local incentives. It is expecting to take two years to complete pending permitting and regulatory approvals.