Nucor Corp (NUE) said on Tuesday that it would invest $200 million over the next five years in mill modernization projects at its Nucor Steel Berkeley division in Huger, South Carolina.
Part of that investment will be in the construction of a new air separation unit for the purpose of supplying industrial gases for the mill’s steelmaking operations, Nucor said.
When finalized, the air separation unit will be managed by UIG LLC, Nucor’s wholly-owned subsidiary, which is specialized in industrial gas supply.
“Nucor acquired UIG in 2019 so that we would have the capability to build and operate our own air separation units, giving us an alternative to long term service contracts with outside providers,” Mike Lee, Vice President and General Manager of Nucor Steel Berkeley, said in a press release.
“We are proud of our company’s long-time partnership with the State of South Carolina, and we are excited to continue to invest in the state where Nucor first began operating nearly 60 years ago.”
Nucor Steel Berkeley, which employs nearly 1,000 people, produces up to 3.5 million tons of flat-rolled sheet and structural steel per year for various industries such as agriculture, automotive & appliance, construction, energy generation and transmission, oil & gas, infrastructure as well as transportation.