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Steel Producer Investing $30M to Reopen Arizona Plant

08/28/2008
Nucor Corporation, a manufacturer of steel products, will invest $30 million to reopen an idle steel plant in Kingman, Arizona. Nucor purchased the former North Star Steel facility in 2003, and company officials say they plan to retool the plant to produce as much as 250,000 tons of rebar during the first year of production. The Kingman Daily Miner reports that the company plans to create approximately 50 new jobs initially, with the possibility of additional positions as capacity increases; the plant has the capability to produce 500,000 tons annually. "Startup of our low-cost rolling mill in Arizona is an exciting growth project in the very attractive southwestern U.S. market for rebar and wire rod," says Dan DiMicco, the company's chair, CEO, and president. Nucor expects to begin production during the second quarter of 2009.

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