Steel Technologies to Expand Operations in Mexico
LOUISVILLE, Ky.--(BUSINESS WIRE)--Aug 09, 2011--LOUISVILLE, Ky. (August 9, 2011) – Steel Technologies LLC (Steel Technologies) today announced that the Pesqueria Municipality has authorized for industrial use the Company's previously announced Greenfield site for its new flat-rolled steel processing and pickling operation in Monterrey. Construction will begin immediately, and the new plant is expected to be fully operational by the end of 2012. The new $75 million, 300,000 square-foot facility will have annual processing capacity in excess of 800,000 tons and will be strategically located to offer customers supply chain and logistical advantages. The facility will expand Steel Technologies’ North American platform to 25 locations, including three joint ventures.
"We are dedicated to bringing more value to our growing customer base in Mexico and are confident that flat-rolled steel consumption in the region will continue to expand," said Michael J. Carroll, President and CEO of Steel Technologies. "The addition of this world class operation will accelerate our growth and complement our strong network of steel processing facilities within the country." Carroll added, "Our new Mexican steel processing operation will be unique in that it will offer a wide range of value-added processing capabilities, including pickling, heavy and light gauge slitting, and multi-blanking. The facility will be equipped with the latest innovation in pickling technology, an environmentally friendly pickle line that offers superior quality producing a clean, consistent surface. We are pleased to be the first to the Mexican market with an EPS® (Eco Pickled Surface) line that offers significant advantages over traditional acid pickling lines." EPS® is a registered trademark of The Material Works, Ltd.
Steel Technologies, headquartered in Louisville, Kentucky, is one of the leading steel processors in North America and leverages its broad geographic network of operations to deliver value-added products and services to customers. Steel Technologies processes flat-rolled steel to specific thickness, width, temper, finish and shape requirements for the automotive, appliance, lawn and garden, agriculture, construction, office furniture, hardware and consumer goods industries. Steel Technologies is owned as a 50-50 joint venture between Nucor Corporation, North America’s leading manufacturer of steel products, and Mitsui & Co. (U.S.A.), Inc., a wholly owned subsidiary of Mitsui & Co., Ltd., a diversified global investment and service enterprise based in Tokyo, Japan. More information about Steel Technologies can be found at www.steeltechnologies.com.