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Researched by Industrial Info Resources (Sugar Land, Texas)--Nucor Corporation (NYSE:NUE) (Charlotte, North Carolina) expects to record a drop in third-quarter earnings due in part to lower prices for sheet and plate steel, the company said Monday.
"Although we still see stability in most of the end-use markets that we serve, there has been some softening in automotive, agricultural products and power transmission markets," Nucor said in an earnings guidance press release.
Even so, Industrial Info is tracking nearly $2 billion worth of U.S. steel production projects that are planned to commence construction in fourth-quarter 2019, including two substantial Nucor projects that make up the lion's share of the planned investments.
Kentucky, Ohio and Arkansas lead in planned fourth-quarter project kickoff investments.
Click on the image at right for a graph showing U.S. steel mill fourth-quarter project kickoff activity.
In Brandenburg, Kentucky, Nucor is planning to kick off construction of a $1.35 billion steel plate mill at the Buttermilk Falls Industrial Park. Following its planned completion in first-quarter 2022, the mill will produce 1.2 million tons per year of cut-to-length, coiled, heat-treated and discrete plate ranging from 60 to 160 inches wide, and in gauges from 3/16 of an inch to 14 inches.
Nucor says the mill's location on the Ohio River will give the company logistical advantages in sourcing raw materials and serving customers throughout the Midwest. Kentucky was one of four states (the others being Indiana, Ohio and West Virginia) under consideration for the mill, which will bring 400 permanent jobs with an average annual salary of $72,000. For more information, see Industrial Info's project report and March 29, 2019, article - Nucor's Planned $1.3 Billion Steel Plate Mill Finds Home in Kentucky.
In Blytheville, Arkansas, Nucor has another big-ticket project item set for a fourth-quarter construction start: a $240 million galvanizing line addition at the Hickman Steel Sheet Plant. The addition, which is planned for completion in second-quarter 2021, will produce 455,000 tons per year of steel sheet metal. The addition complements the $230 million addition of a steel sheet cold-rolling mill, which is planned for completion this year at the Hickman site. For more information, see Industrial Info's project reports for the galvanizing line and steel sheet cold-rolling mill addition.
On September 6, Nucor announced the retirement of President and Chief Executive Officer John Ferriola effective December 31. Nucor's board of directors has picked Executive Vice President Leon Topalian as the next chief executive. Nucor has earmarked $1.8 billion for capital expenditures this year. For more information, see July 22, 2019, article - Steel Producer Nucor Sticks With $1.8 Billion Planned Capex for 2019.
In Ohio, JSW Group (Mumbai, India) plans for construction to commence next quarter on an electric arc furnace addition at the Mingo Junction South Steel Mill. The addition will double the facility's capacity from 1.5 million tons per year to 3 million tons per year. Completion is planned for fourth-quarter 2020. For more information, see Industrial Info's project report.
Industrial Info also is tracking more than $876 million in planned steel mill project completions in the fourth quarter. Once again, Nucor is at the top of the list in terms of investments, with the planned completion of a $180 million expansion of the Bourbonnais Kankakee Steel Mill by the end of this year in Illinois. The project includes construction of a 500,000-ton-per-year merchant bar quality mill at the site. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
"Although we still see stability in most of the end-use markets that we serve, there has been some softening in automotive, agricultural products and power transmission markets," Nucor said in an earnings guidance press release.
Even so, Industrial Info is tracking nearly $2 billion worth of U.S. steel production projects that are planned to commence construction in fourth-quarter 2019, including two substantial Nucor projects that make up the lion's share of the planned investments.
Kentucky, Ohio and Arkansas lead in planned fourth-quarter project kickoff investments.
In Brandenburg, Kentucky, Nucor is planning to kick off construction of a $1.35 billion steel plate mill at the Buttermilk Falls Industrial Park. Following its planned completion in first-quarter 2022, the mill will produce 1.2 million tons per year of cut-to-length, coiled, heat-treated and discrete plate ranging from 60 to 160 inches wide, and in gauges from 3/16 of an inch to 14 inches.
Nucor says the mill's location on the Ohio River will give the company logistical advantages in sourcing raw materials and serving customers throughout the Midwest. Kentucky was one of four states (the others being Indiana, Ohio and West Virginia) under consideration for the mill, which will bring 400 permanent jobs with an average annual salary of $72,000. For more information, see Industrial Info's project report and March 29, 2019, article - Nucor's Planned $1.3 Billion Steel Plate Mill Finds Home in Kentucky.
In Blytheville, Arkansas, Nucor has another big-ticket project item set for a fourth-quarter construction start: a $240 million galvanizing line addition at the Hickman Steel Sheet Plant. The addition, which is planned for completion in second-quarter 2021, will produce 455,000 tons per year of steel sheet metal. The addition complements the $230 million addition of a steel sheet cold-rolling mill, which is planned for completion this year at the Hickman site. For more information, see Industrial Info's project reports for the galvanizing line and steel sheet cold-rolling mill addition.
On September 6, Nucor announced the retirement of President and Chief Executive Officer John Ferriola effective December 31. Nucor's board of directors has picked Executive Vice President Leon Topalian as the next chief executive. Nucor has earmarked $1.8 billion for capital expenditures this year. For more information, see July 22, 2019, article - Steel Producer Nucor Sticks With $1.8 Billion Planned Capex for 2019.
In Ohio, JSW Group (Mumbai, India) plans for construction to commence next quarter on an electric arc furnace addition at the Mingo Junction South Steel Mill. The addition will double the facility's capacity from 1.5 million tons per year to 3 million tons per year. Completion is planned for fourth-quarter 2020. For more information, see Industrial Info's project report.
Industrial Info also is tracking more than $876 million in planned steel mill project completions in the fourth quarter. Once again, Nucor is at the top of the list in terms of investments, with the planned completion of a $180 million expansion of the Bourbonnais Kankakee Steel Mill by the end of this year in Illinois. The project includes construction of a 500,000-ton-per-year merchant bar quality mill at the site. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
