new steel mill

how many employees are there in an operation like that? how is the safety record?

during the initial construction it was over 6000 workers, our contracting division had 2500 people on site for over a year.

Currently the plant is operating with 320 people, this will increase to @750 when they ramp up the second caster and furnace.

The safety record of these minimills is outstanding. they are really on the ball safety wise several of the Nucor Steel mills have gone over 2 years without an injury

So, instead of sending the profits to Japan, we send them to Russia. I have to wonder why no American steel company is willing to build such a modern plant?

Paul

Paul,

Nucor has built 12 in the last 30 years, the average life of a steel mill is 50 years. ( and they are currently building 2)

Severcorr is an American company and Severstall , a partner in the company has as many facilities in this hemisphere as its own. Not to mention that every dollar for the company ( 1.5 B ) was raised domestically, Severstall provides financial backing to the company it is essentially the cream of the Nucor crop start up

You do know who Nucor is right? The company who revolutionized steel making and revived steel making in this country ?

dont know where your "Japan" reference comes from, with the exception of high quality Rail, over 80 percent of steel used in North America comes for North or South America. The steel dumping done by China and Japan are a thing of the past, Japan was dumping automotive grade steels which are now produced cheaper here, and China was dumping structurals and plate of which they are a net importer now.

Dont listen to the media and the unions, the truth is out there if your willing to look for it

You might note that the plant is a joint veture with Steelcor, an American company. You might also look at the Nucor website and the WSJ. Nucor is upgrading some plants to produce high grade cold rolled steel.

Dan

for the record

SteelCorr is the parent of Severcorr , it is the company Dan Correnti started after leaving Nucor , he is the CEO that made Nucor what it is today.

Nucor is currently doing a complete gut and rebuild of two former Birmingham Steel mills , one in Memphis that we are shipping equipment to and our contracting division is piping right now, called an SBQ mill which stands for Special Bar Quality .

The Severcorr plant is 10x as large as a tyupical minimill due to the amount of post processing they can perform.

The Nucor plant in Blytheville, AR that is partnered with Yamato Steel makes structurals, you have not seen anything until you 30" wide flanges , glowing orange traveling by .

Steel. its whats for breakfast

================= Without doing a detailed analysis, more than likely it is because the executives and directors of the domestic [US] steel [steal?] companies did the math and determined that for a given investment, it was more profitable, at least on paper and in the short run (on which their "performance" bonuses are based), to "invest" the money in financial (speculative) activities such as "special investment vehicles [SIVs], hedge funds, and high yield securities [aka junk bonds], without the aggravation of dealing with construction permits, environmental impact statements, marketing, environmental regulations, and labor unions.

Much of the problem can be traced to the deeply flawed US tax system with its treatment/definition of "capital gains" which in fact add nothing to the actual total capital stock of the US economy and indeed frequently *DECREASE* the capital stock total, as in the case of restructuring made possible by M&A/LBO activity, and stock buy-backs with borrowed funds, the interest of which is tax deductible.