Nucor Announces Expansion of Vulcraft/Verco Group into Canada
CHARLOTTE, N.C., May 10, 2016 /PRNewswire/ — Nucor Corporation (NYSE: NUE) announced today that its Vulcraft/Verco Group is expanding into Canada. The new production facility will operate as Vulcraft Canada, Inc., and will be located near Hamilton, Ontario to serve the Central and Eastern Canadian markets. The facility will produce steel joists, joist girders, and decking. Product fabrication is expected to begin later this year.
“We are excited to expand our production into Canada as part of our long-term commitment to serving our customers in this market,” said Ray Napolitan, Executive Vice President, Fabricated Construction Products. “We already have valuable partnerships with many Canadian customers, and we look forward to building on those relationships and growing this business well into the future.”
Vulcraft Canada, Inc. is a wholly-owned subsidiary of Nucor Corporation. Nucor’s start in the steel business began when it purchased theVulcraft Corporation, a South Carolina maker of steel joists and joist girders. Today, the Vulcraft/Verco Group has 10 facilities in the United States and is the nation’s largest producer of steel joists and deck.
Nucor and its affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products produced include: carbon and alloy steel – in bars, beams, sheet and plate; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; steel grating; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America’s largest recycler.
Certain statements contained in this news release are “forward-looking statements” that involve risks and uncertainties. The words “believe,” “expect,” “project,” “will,” “should,” “could” and similar expressions are intended to identify those forward-looking statements. Factors that might cause the Company’s actual results to differ materially from those anticipated in forward-looking statements include, but are not limited to: (1) competitive pressure on sales and pricing, including competition from imports and substitute materials; (2) the sensitivity of the results of our operations to prevailing steel prices and the changes in the supply and cost of raw materials, including scrap steel; (3) market demand for steel products; and (4) energy costs and availability. These and other factors are discussed in Nucor’sregulatory filings with the Securities and Exchange Commission, including those in Nucor’s fiscal 2015 Annual Report on Form 10-K, Item 1A. Risk Factors. The forward-looking statements contained in this news release speak only as of this date, and Nucor does not assume any obligation to update them.
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SOURCE Nucor Corporation