Nucor acquires Mexican castings firm

Charlotte, North Carolina-based steelmaker Nucor Corp. has acquired Corporacion POK S.A. de C.V. (POK), which it describes as “a fully integrated precision castings company with a facility in Guadalajara, Mexico.”

POK produces what Nucor calls complex castings and precision machined products used by the oil and gas, mining and sugar processing industries.

In a news release announcing the acquisition, Nucor says POK’s operations, which focus on making castings using steel, bronze, iron and specialty alloys, is a natural fit for Nucor’s existing cold finish businesses, and complements the steel company’s acquisition of a cold finish facility in Monterrey, Mexico, in 2017.

“Our company has had a presence in Mexico for more than a decade; we know the market and the customers there,” says John Ferriola, chairman, CEO and president of Nucor. “This acquisition supports Nucor’s strategy in Mexico, which is focused on downstream processing for high-quality, value-added applications targeting niche markets. Expanding our capability to produce value-added products is a key component of our strategy for long-term profitable growth.”

In addition to the Nucor ATP Mexico cold finish facility in Monterrey, Nucor’s current Mexican operations include several sheet steel processing facilities as part of its Steel Technologies joint venture with Mitsui & Co., as well as a steel sales office. Nucor also is building a galvanizing line with its joint venture partner, JFE Steel Corp. of Japan, to serve the Mexican automotive market.