Nucor, JFE Steel to build auto sheet steel plant in Mexico

WCN Editorial Team 13 Jun 2016 NORTH AMERICA BUILDINGS

US-based steel producer Nucor has announced an equal stake joint venture with Japan-based JFE Steel to construct and operate a steel plant in central Mexico.

The $270M plant will have capacity to produce 400,000t of galvanized sheet steel annually.

Currently the firms are working to obtain the necessary conditions to move to completion, including regulatory approvals.

Nucor’s chairman CEO and president John Ferriola said: "JFE Steel is a natural partner for us. They are a premier supplier of high-quality products to the automotive industry and share our focus on long-term growth.

"This joint venture builds on our efforts to increase our production of differentiated and value-added products. Continued growth in Mexico's automotive production presents an opportunity for Nucor to increase our sales to this important market."

The plant is expected to commence operations in the second half of 2019.

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