Nucor to exit light steel framing business
Nucor Corp. will close its Nuconsteel division and no longer fabricate light gauge steel framing used in residential and commercial structures, the company has announced. Nuconsteel has operations in Denton, Texas, and Dallas, Ga.
Nucor entered the light gauge steel framing business in November 2001 with the acquisition of Itec Steel, which became Nuconsteel shortly thereafter. Nucor expects to close Nuconsteel's facilities in the spring of 2012, after meeting current customer contractual obligations.
"This decision was a very difficult one due to the impact it has on our employees at Nuconsteel. We continually evaluate our business segments for long-term strategic fit and earnings potential. The fabrication of residential and commercial light gauge steel framing does not offer the returns or scale necessary for Nucor to remain in the business," said Dan DiMicco, Nucor's chairman and CEO.
Headquartered in Charlotte, N.C., Nucor and affiliates are manufacturers of steel products, with operating facilities primarily in the United States and Canada. Products include carbon and alloy steel -- in bars, beams, sheet and plate -- steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; steel grating and expanded metal; and wire and wire mesh.