Nucor to purchase mill in Longview, Texas

Milwaukee-based Joy Global says it has agreed to sell its steel plate mill in Longview, Texas, to Nucor Corp., Charlotte, North Carolina, 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, according to Nucor.

“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,” says 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 electric arc furnace (EAF) 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.

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, the company says.

Under Nucor’s ownership, the mill will continue to supply Joy Global with heavy steel plate used to manufacture some of the company’s mining equipment.

“This offers great opportunities for the mill employees,” says Rodney Bull, vice president and general manager for Joy Global in Longview. “We look forward to a strong working partnership with Nucor as both companies drive for growth in our respective markets.”

According to the Texas State Historical Association, the Longview site dates back to 1941, when the Detroit-based Madaras Steel Corporation built a sponge iron facility there.

Throughout much of its history the mill was operated under the LeTourneau name, until LeTourneau Technologies was acquired by Joy Global in 2011.