Nucor Corporation Eyes Sedalia, Missouri, Rebar Micro Mill
The new micro mill project, which was approved by the Missouri Development Finance Board, represents at least $250 million in new investments and is expected to start-up in 2019. According to company officials the project is pending final approval and award of state and local incentives, as well as required permits and regulatory approvals.
"Our bar mills have been the foundation of our company, and we believe strategically supplying underserved markets will allow our bar business to continue to generate significant value in the future,” Dave Sumoski, Executive Vice President of Merchant and Rebar Products.
“We are encouraged by the tremendous support received by the state and local community in Missouri, and Nucor has decided to pursue an additional micro mill project. Two regions are currently under consideration in the Southeastern United States for this additional project,” he added.
"This rebar micro mill project is consistent with our long-term strategy for profitable growth and builds on our position as a low-cost producer," said John Ferriola, Chairman, CEO & President of Nucor. "Strategically positioning this micro mill in the Kansas City area will give us a sustained cost advantage over other domestic steel producers supplying rebar from outside the region."
Rebar supply to the Kansas City, upper Midwestern and Plains markets currently travels long distances, giving the micro mill in Sedalia a logistical advantage, company officials said. This location will also allow the Company to take advantage of the abundant scrap supply in the immediate area provided by Nucor's scrap business, The David J. Joseph Company.
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