Nucor Fastener to Expand

The company has acquired an existing coil processing facility in Shelbyville, Indiana.

Acquisition I Stock 509731002
iStock

CHARLOTTE, N.C., Oct. 6, 2021 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced today that it is expanding its Nucor Fastener division with the acquisition of an existing state-of-the-art coil processing facility in Shelbyville, Indiana. This facility includes an automated clean and coat line, 2 STC® furnaces and wire drawing capabilities. In addition to coil processing, the Company will also be expanding its fastener manufacturing capabilities by installing bolt making equipment at the Shelbyville facility.  This new operation will employ approximately 33 team members at the outset with the potential to double those jobs as it reaches full capacity. 

"We are excited to grow our Fastener Division with the acquisition of these assets," said Joey Loosle, General Manager of Nucor Fastener. "Adding bolt making capability to the Shelbyville facility will help expand our offerings to the automotive, heavy truck, industrial/MRO and structural fastener markets. Nucor Fastener is already a leader in steel fasteners and this expansion will further enhance that position."

By recycling steel in electric arc furnaces, Nucor is among the cleanest steel producers in the world, with greenhouse gas emissions that are one-third of the global steelmaking average and nearly one-fifth of the average blast furnace steel producer. Nucor's Fastener Products are made with 97% recycled content, which is far more sustainable than fasteners produced from blast furnace steel made overseas.

Along with recently announced upgrades at the Nebraska engineered bar mill, this new facility will allow Nucor to better service the automotive cold heading quality (CHQ) market and provide customers with the highest quality products. The Shelbyville facility will allow the Nucor Engineered Bar group to offer processed coil with superior surface quality for the most demanding automotive CHQ applications.

About Nucor Fastener

Nucor Fastener is a division of Nucor Corporation. Located in St. Joe, Indiana, Nucor Fastener has been operating since 1986 and employs approximately 240 teammates. Nucor Fastener produces alloy steel hex head cap screws, heavy hex bolts and nuts, and Tru-Tension® assemblies. Nucor fasteners are used in a broad range of markets, including automotive, machine tool, farm implement, construction and military applications.

More in Mergers & Acquisitions