NUCOR SITES MINIMILL
Nucor Corp., Charlotte, N.C., has announced plans to build a $500 million steel minimill in South Carolina. The company chose this state over Virginia, according to reports.
IMCO PLANS PROJECTS
Imco Recycling Inc., Irving, Texas, has announced plans to spend about $14 million this year on several projects, including building a new processing plant in Morgantown, Ky., and expanding its Louden, Pa., aluminum recycling plant and Kentucky landfill.
JANUARY STEEL SHIPMENTS UP
Shipments of steel products by U.S. mills in the first month of 1995 were up 15.3 percent from shipments in the first month of 1994, according to reports from the American Iron and Steel Institute, Washington.
The steel industry in the United States shipped 8.1 million net tons of steel in January, compared to 7.1 million during the same period in 1994.
January's shipments were down 2.2 percent from the 8.3 million net tons shipped in December.
A year-to-year comparison of the first month's shipments shows the following changes: service centers and distributors, up 23.8 percent; automotive, up 9.3 percent; construction and contractor's products, up 30.2 percent; oil and gas, down 26.6 percent; machinery, industrial equipment and tools, up 26.3 percent; appliances, utensils and cutlery, down 20.4 percent; and electrical equipment, up 24.3 percent.
NEWARK GROUP PLANS EXPANSION
The Newark Group Inc., Cranford, N.J., which now produced more than one million tons of 100 percent recycled paperboard at its twelve U.S. mills, has approved plans and financing for the upgrading and expansion of its Ohio paperboard mill.
"We were extremely pleased with the acquisition of this facility with its great potential and outstanding work force," says Fred von Zuben, president and chief operating officer. "The capital improvement program will fully develop the mill's potential and bring its grade mix more in line with The Newark Group's long term marketing strategy," he continues.
After completion, the mill will be capable of producing folding grades, lightweight specialty grades and a full range of containerboard grades.
The initial phase of the program will be completed in 1995, and the project will be financed through the sale of Ohio revenue development bonds.
MINDIS, RESERVE JOINT VENTURE
Mindis Recycling, Atlanta, and Reserve Iron and Metal, Cleveland, have entered into a joint venture at Mindis' Attalla, Ala., facility. The joint venture, known as R&M Iron Ltd., will process iron products, machinery and heavy breakable cast, as well as mill rolls up to 50,000 pounds. The operation is the only one of its kind in the Southeast.
"There is a natural fit between our respective companies which we expect will result in us being able to further enhance our relationship with both our customers and consumers," says Byron Kopman, CEO and president of Mindis.