The largest U.S. steel producer and “mini-mill” steelmaker recently announced plans to build a rebar micro mill near Frostproof, Florida, in a bid to capitalize on the growing demand for construction steel. The facility will produce steel rebar from scrap metal.
Charlotte-based Nucor Corporation will invest $240 million in the steel plant in Florida. The company began construction on its second rebar micro mill project in Sedalia, Missouri, in November 2017.
“Nucor has always focused on growing our business to better serve our customers. We are building this rebar micro mill in a great and growing market where demand is strong and there is currently an abundant supply of scrap, a good portion of which is handled by our scrap business,” said John Ferriola, chairman, CEO & president of Nucor Corporation. “Consistent with our planned strategy of being a low-cost producer, this micro mill will give us a cost advantage over our competitors who are shipping rebar into the region from long distances.”
The rebar micro mill, which will produce steel rebar from scrap metal, is expected to have an estimated annual capacity of 350,000 tons.
“We would like to thank the many state and local officials, leaders, and partners who have assisted us with the project,” said Dave Sumoski, executive vice president of Merchant and Rebar Products. “Identifying the right location is an essential part of our rebar micro mill strategy, and this part of central Florida met all the criteria we evaluate. We look forward to becoming a member of the community.”
