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Pittsburgh — Nucor plans to build a new $164 million tube mill in the Midwest amid strong steel demand, it said March 9, capitalizing on recent investment made by the company in the region.
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The mill will have the capacity to produce roughly 250,000 st of hollow structural section (HSS) tubing, mechanical steel tubing and galvanized solar torque tube, which will increase Nucor's product offerings for construction, infrastructure and renewable energy in the expanding solar market in the US, the company said.
"Adding a tube mill in the Midwest will allow us to leverage recent investments we have made and further strengthen our market leadership position as a low-cost producer of steel products," Leon Topalian, CEO of Nucor said in a statement. "Building this tube mill puts us in a great position to serve the largest consuming regions of the US for hollow structural section tubing and solar energy."
Nucor entered the tube market in 2016 through its acquisitions of Southland Tube, Independence Tube Corp. and Republic Conduit. Nucor Tubular Group currently consists of eight tubular facilities.
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