Nucor, a Charlotte, North Carolina, steel manufacturer, plans to enhance and expand its ability to roll a broader range of steel bars at its Memphis facility.
"We are excited to be investing in our Memphis mill in order to serve a growing segment of our bar mill business," Mike Gurley, vice president and general manager of Nucor Steel Memphis, said. "We believe the engineered bar markets will continue to be strong into the future, driven by energy, automotive, heavy truck and heavy equipment manufacturers. This investment in our Memphis mill will position Nucor to meet the growing demands of our engineered bar customers."
According to Tennessee economic development officials Nucor is the leading producer of structural steel, steel bars, steel reinforcing bars, steel joist and girders and steel decks in the country. The company is also North America's largest recycler.
"Nucor's substantial investment will increase the competitiveness of its Memphis facility, positioning the plant for future growth while helping protect existing jobs," Reid Dulberger, president and CEO of the Economic Development Growth Engine said. "
"Our Jobs Four Tennessee strategy focuses on existing Tennessee businesses, and Nucor's latest investment in our state, will add good paying jobs in Shelby County," said Governor Bill Haslam said. The expansion should initially create about 30 jobs.
"Nucor is a vital industry in Shelby County's business community," Mark H. Luttrell, Jr., Shelby County mayor, said. "This is yet another example of a company choosing to invest their resources locally which will help strengthen our economy."