Nucor Corporation announced that it has agreed to acquire Joy Global’s steel plate mill in Longview, Texas, for approximately $29 million. The mill produces carbon and alloy plate products with heat-treating capabilities and has an annual capacity of 180,000 tons.
“This acquisition builds on our strategy to capture a growing share of higher value-added plate products and complements the capabilities of our two existing plate mills,” said John Ferriola, Chairman, CEO and President of Nucor. “The Longview mill will serve as a valuable addition to Nucor’s plate product offerings, which we believe can be further leveraged by our Nucor commercial team.”
The mill produces specialty plate products with the capability of producing plate that can range from 1 to 12 inches thick and up to 138 inches wide. Approximately 140 non-unionized teammates work at the Longview mill. Nucor’s existing plate mills are in North Carolina and Alabama and have a combined capacity of 2.9 million tons per year. Nucor’s existing mills produce plate for manufacturers of barges, bridges, heavy equipment, rail cars, refinery tanks, ships, wind towers, armor and other markets. Nucor plate products are also used in the pipe and tube, pressure vessel, transportation and construction industries.