Nucor Corp., Charlotte, N.C., plans to close its Nuconsteel division by the second quarter of 2012. The division includes operations in Denton, Texas, and Dallas, Ga. By closing the division, Nucor says it will exit the business of fabricating light gauge steel framing.
In a news release, Dan DiMicco, Nucor chairman and CEO, says, “This decision was a very difficult one due to the impact it has on our employees at Nuconsteel. We continually evaluate our business segments for long-term strategic fit and earnings potential. The fabrication of residential and commercial light gauge steel framing does not offer the returns or scale necessary for Nucor to remain in the business.”
Hamilton Lott, executive vice president of fabricated construction products for Nucor, expresses his admiration for the Nuconsteel team. “We very much appreciate the persistent and significant efforts of those teammates over the years and, where possible, we will encourage those employees to seek other opportunities within Nucor,” Lott says.
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