Nucor

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title: "Nucor" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["1955-establishments-in-new-york-city", "1970s-initial-public-offerings", "american-companies-established-in-1955", "companies-based-in-charlotte,-north-carolina", "companies-listed-on-the-new-york-stock-exchange", "companies-in-the-s&p-500-dividend-aristocrats", "manufacturing-companies-based-in-north-carolina", "manufacturing-companies-established-in-1955", "steel-companies-of-the-united-states"] description: "American steel corporation" topic_path: "geography/united-states" source: "https://en.wikipedia.org/wiki/Nucor" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0

::summary American steel corporation ::

::data[format=table title="Infobox company"]

Field	Value
name	Nucor Corporation
logo	Nucor logo.svg
type	Public
traded_as
foundation
predecessor	REO Motor Car Company
hq_location	Charlotte, North Carolina, United States
key_people
industry	Steel
products	Steel
Rebar
revenue
net_income	(2024)
assets	(2024)
equity	(2024)
num_employees	32,700 (2024)
homepage
footnotes
::

| name = Nucor Corporation | logo = Nucor logo.svg | type = Public | traded_as = | foundation = | predecessor = REO Motor Car Company | hq_location = Charlotte, North Carolina, United States | key_people = | industry = Steel | products = Steel Rebar | revenue = | net_income = (2024) | assets = (2024) | equity = (2024) | num_employees = 32,700 (2024) | homepage = | footnotes = Nucor Corporation is an American company based in Charlotte, North Carolina, that produces steel and related products. It is the largest steel producer in the United States and the largest recycler of scrap in North America. Along with Commercial Metals Company, it is one of two primary suppliers of rebar used to reinforce concrete in buildings, bridges, roads, and infrastructure in the U.S.

Current operations

To supply its mills, Nucor uses electric arc furnaces and continuous casting to melt scrap steel as opposed to blast furnaces to melt iron. In 2024, the company produced and sold approximately 18.5 million tons of steel and recycled 18 million tons of scrap.

None of Nucor's mills are unionized and the corporate culture is opposed to trade unions.

History

After REO Motor Car Company, founded by Ransom E. Olds, sold its operations and initiated liquidation proceedings, a group of dissident activist shareholders, noticing the existence of a usable tax loss, successfully challenged the liquidation in a proxy fight in September 1955 and forced REO to take over a tiny nuclear services company called Nuclear Consultants, Inc. in a reverse takeover.

The company was renamed "Nuclear Corporation of America Inc." and relocated to offices in the Empire State Building in New York City. The organization's attempt to recast itself as a nuclear industry services company was unsuccessful, and it followed the example of other companies in the 1950s and 60s by attempting to become a conglomerate, moving its headquarters to Phoenix, Arizona. It made several acquisitions, including the Vulcraft Corporation, a steel joist manufacturer located in Florence, South Carolina. Vulcraft was founded by Sanborn Chase, who died at an early age, leaving the company to his widow. Nuclear purchased Vulcraft from Chase's widow in 1962 and hired F. Kenneth Iverson as general manager. In March 1965, the company again filed for bankruptcy. Iverson, head of the only profitable division, took over as head of the company due to lack of interest in the job from others.

Iverson reorganized Nucor around its only profitable business, the steel fabricator Vulcraft. All other businesses were either sold or liquidated.

In 1966, the company moved its headquarters to Charlotte, North Carolina to be closer to its main Vulcraft plant in South Carolina.

In 1968, unable to get favorable steel prices from American manufacturers and unhappy with the imported steel available at the time, Iverson, a metallurgist by training, extended Nucor vertically into steelmaking by building its first steel bar mill in Darlington, South Carolina.

The company purchased an electric arc furnace, which was far cheaper than the traditional steel blast furnace, with a $6 million loan secured by all of the company's assets. Production delays and staffing problems resulted in losses, but earnings soared in 1971 and 1972.

In 1972, the company, recognizing that it was now misnamed, adopted its current title, Nucor Corporation. That year, it became a public company via an initial public offering.

In 1988, the company opened its building products division.

In 1989, Nucor opened a facility in Crawfordsville, Indiana, the first mini mill in the world to produce flat rolled steel using thin-slab technology.

In March 2000, a joint venture, owned 47.5% by Nucor, 47.5% by BlueScope, and 5% by IHI Corporation was formed to license Castrip technology. This technology allowed for continuous casting of sheet steel directly from molten steel without the need for heavy, expensive, and energy-consuming rollers.

Acquisitions and divestitures

::data[format=table]

Date	Acquisition / Divestiture	Company	Price	Ref(s).
	Acquisition	Auburn Steel	$115 million
	Acquisition	Birmingham Steel	$615 million
	Acquisition	Corus Tuscaloosa	$90 million
	Acquisition	Fort Howard Steel	Undisclosed
	Acquisition	Marion Steel	$113 million
	Acquisition	Connecticut Steel	$43 million
	Acquisition	Verco Decking	$113 million
	Acquisition	Harris Steel	$1.07 billion
	Acquisition	David J. Joseph Company	$1.44 billion
	Acquisition	Skyline Steel	$605 million
	Acquisition	Gallatin Steel	$770 million
	Acquisition	Gerdau Bright Bar assets	Undisclosed
	Acquisition	Steel plate mill from Joy Global	$29 million
	Acquisition	Independence Tube	$435 million
	Acquisition	Southland Tube	$130 million
	Acquisition	St. Louis Cold Drawn	$60 million
	Acquisition	TrueCore Insulated Panels	Undisclosed
	Acquisition	Insulated Metal Panels Business from Cornerstone Building Brands	$1 billion
	Acquisition	Hannibal Industries	$370 million
	Acquisition	Grossman Iron and Steel & Garden Street Iron & Metal	Undisclosed
	Acquisition	Majority ownership of California Steel Industries	$130 million
	Acquisition	Elite Storage Solutions	$75 million
	Acquisition	Summit Utility Structures	Undisclosed
	Acquisition	CHI Overhead Doors	$3.0 billion
	Divestiture	David J. Joseph Company’s U-Pull-&-Pay Division	Undisclosed
April 2024	Acquisition	Southwest Data Products	$115 million
July 2024	Acquisition	Rytec Corporation	$565 million
::

Closures and new investments

::data[format=table]

Date	Type	Description	Ref(s).
	Investment	$85 million upgrade of the rolling mill at its Marion, Ohio rebar and signpost operation
	Production start	Joint venture with JFE Steel in Mexico
	Closure	Longview plate mill
	Construction start	Steel mill in Lexington, North Carolina
::

List of CEOs

• F. Kenneth Iverson (1965–1996)

• John Correnti (1996–1999)

• H. David Aycock (1999–2000)

• Dan DiMicco (2000–2012)

• John J. Ferriola (2013–2019).

• Leon J. Topalian (2019–present)

Environmental issues

In 2000, Nucor agreed to spend $98 million, including $85 million for new air pollution control equipment, $4 million to monitor and reduce pollution in communities near its plants, and a $9 million civil fine to resolve allegations by the United States Department of Justice and the United States Environmental Protection Agency (EPA) that it had not adequately controlled the emission of toxic chemicals into the air, water, and soil in Alabama, Arkansas, Indiana, Nebraska, South Carolina, Texas, and Utah. The settlement was "the largest and most comprehensive environmental settlement ever with a steel manufacturer."

In 2016, the company unsuccessfully filed a lawsuit to block the EPA from adopting a plan to control visible pollution in Arkansas.

In 2023, the company signed an agreement with ExxonMobil for carbon capture and storage of up to 800,000 metric tons from its direct reduced iron plant in Convent, Louisiana. The plant had been criticized for its emissions.

References

References

1. (February 27, 2025). "Nucor Corporation 2024 Form 10-K Annual Report". [[U.S. Securities and Exchange Commission]].
2. "Top steel-producing companies". [[World Steel Association]].
3. "AFL-CIO says Nucor should make commitments".
4. Downey, John. (September 26, 2019). "Nucor has a culture that's survived every CEO shift". [[American City Business Journals]].
5. Metzger, Mark K.. (April 1, 1984). "F. Kenneth Iverson of Nucor: Man of Steel". [[Inc. (magazine).
6. Peninger, Kay. "Ken Iverson and Nucor Corporation". [[Charlotte Museum of History]].
7. (April 20, 2002). "F. Kenneth Iverson, 76; Built Nucor Into No. 2 Steelmaker". [[Los Angeles Times]].
8. Downey, John. (September 26, 2019). "Nucor marks 50 years on the stock market — and 43,796% revenue growth". [[American City Business Journals]].
9. HICKS, JONATHAN P.. (December 2, 1989). "Thomas Cousins set to retire". [[The New York Times]].
10. Franklin, Stephen. (April 28, 1991). "High-tech Steel Mill Doing More With Less". [[Chicago Tribune]].
11. Trade Commission, U.S. International. (October 2015). "Certain Hot-Rolled Steel Flat Products from Australia, Brazil, Japan, Korea, the Netherlands, Turkey, and the United Kingdom". U.S. International Trade Commission.
12. (March 20, 2001). "NUCOR BUYS STEEL-BAR MILL ASSETS FOR $115 MILLION". [[The New York Times]].
13. (May 30, 2002). "Birmingham Steel selling to Nucor for $615M". [[American City Business Journals]].
14. (May 22, 2002). "NUCOR IN $615 MILLION DEAL FOR BIRMINGHAM STEEL". [[The New York Times]].
15. (June 8, 2004). "Nucor buys Corus Tuscaloosa". [[United Press International]].
16. (January 10, 2005). "Nucor to buy Wisconsin plant". [[American City Business Journals]].
17. (April 19, 2005). "NUCOR TO BUY MARION STEEL FOR $113 MILLION". [[The New York Times]].
18. (May 1, 2006). "Nucor unit buys Connecticut mill". [[American City Business Journals]].
19. (September 12, 2006). "Nucor to buy Phoenix company for $180M". [[American City Business Journals]].
20. (January 21, 2007). "Nucor to buy Harris Steel in $1 billion deal". [[Reuters]].
21. (March 3, 2008). "Nucor Acquires The David J. Joseph Company". [[Thomas Register]].
22. (May 18, 2012). "Nucor to Acquire Skyline Steel LLC". Association for Iron & Steel Technology.
23. (September 15, 2014). "Nucor to acquire Gallatin Steel". Recycling Today.
24. (November 9, 2015). "Nucor to Acquire Certain Assets from Gerdau’s Bright Bar Business". Business Wire.
25. (July 21, 2016). "Nucor to Acquire Plate Mill in Texas". Modern Metals.
26. (September 19, 2016). "Nucor to Acquire Independence Tube Corporation". CRU International.
27. (December 6, 2016). "Nucor Corp. agrees to acquire Southland Tube for $130 million". GIE Media, Inc..
28. "Form 10-Q".
29. Downey, John. (June 7, 2021). "Nucor to acquire insulated metal panel business from Cary-based company for $1B". [[American City Business Journals]].
30. "Nucor Completes Acquisition of Cornerstone Building Brands' IMP Business {{!}} 2021-09-08 {{!}} Walls & Ceilings".
31. (August 23, 2021). "Nucor Completes Acquisition of Hannibal Industries, Inc.". [[PR Newswire]].
32. (October 1, 2021). "Nucor Affiliates Announce Two Acquisitions". [[PR Newswire]].
33. (December 13, 2021). "Nucor Acquires Majority Ownership of California Steel Industries". [[PR Newswire]].
34. (April 5, 2022). "Nucor Acquires Steel Racking Manufacturer Elite Storage Solutions". [[PR Newswire]].
35. Downey, John. (April 5, 2022). "Nucor expands steel racking business with $75M acquisition". [[American City Business Journals]].
36. (June 7, 2022). "Nucor to Acquire Manufacturer of Steel Utility Structures". [[PR Newswire]].
37. (2022-05-25). "Nucor Corp. Will Acquire C.H.I Overhead Doors for $3B {{!}} Law Street Media".
38. Downey, John. (May 16, 2022). "Nucor's $3B deal for C.H.I. Overhead Doors marks its priciest acquisition ever". [[American City Business Journals]].
39. (August 29, 2022). "Pull-A-Part Acquires U-Pull-&-Pay from DJJ". Recycling Today.
40. (August 29, 2022). "Pull-A-Part Acquires the David J. Joseph Company’s U-Pull-&-Pay Division". Pull-A-Part.
41. FinSMEs. (2024-04-01). "Nucor to Acquire Southwest Data Products, for $115M".
42. Jones, Vicki. (Winter 2024). "Industry Shakeup: The growing trend of acquisitions in the door and access industry". [[Door + Access Systems]].
43. (April 3, 2017). "Nucor to invest $85 million in Marion upgrade". [[USA Today]].
44. (March 5, 2020). "Nucor-JFE Steel Mexico Hot-dip Galvanized Sheet Steel Facility Begins Production". [[PR Newswire]].
45. (May 24, 2023). "Nucor Announces Plate Mill Group Reorganization". [[PR Newswire]].
46. Doss-Raines, Jill. (August 25, 2023). "Nucor breaks ground on its $350 million Lexington rebar plant". [[The Dispatch (Lexington).
47. Adams, Chris. (June 4, 1999). "Nucor CEO Steps Down Suddenly, Sending Steel Firm's Stock Sliding". [[The Wall Street Journal]].
48. (August 19, 2015). "John Correnti, Ex-Nucor CEO who led Big River Steel, dies". [[Charlotte Observer]].
49. (November 5, 2013). "Daniel R. DiMicco To Retire As Executive Chairman Of Nucor; John J. Ferriola Named Chairman Effective January 1, 2014". [[PR Newswire]].
50. (November 16, 2012). "John J. Ferriola To Be Named Nucor CEO Effective January 1, 2013, Daniel R. DiMicco Continues As Executive Chairman".
51. Tita, Bob. (September 6, 2019). "Nucor to Replace CEO at Year-End". [[The Wall Street Journal]].
52. (December 19, 2000). "U.S. REACHES ENVIRONMENTAL SETTLEMENT WITH STEEL MANUFACTURER NUCOR". [[United States Department of Justice]].
53. (December 21, 2000). "Nucor agrees to pay $98 million for pollution control, penalties". [[Deseret News]].
54. Bailey, David. (April 16, 2016). "Federal judge dismisses pollution suit by Nucor Steel Arkansas". [[Reuters]].
55. (June 1, 2023). "ExxonMobil signs carbon capture agreement with Nucor Corporation, reaching 5 MTA milestone". [[ExxonMobil]].
56. MITCHELL, DAVID J.. (November 13, 2022). "Nucor hit with EPA air pollution violations at St. James plant as DEQ mulls big permit increases". [[The Advocate (Louisiana).

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