IN BRIEF: Nucor, JFE confirm Mexico steel plant plans
US steelmaker Nucor and Japan's JFE Steel confirmed plans for a US$270mn galvanized sheet steel plant in Mexico.
The companies announced a 50:50 JV to build and operate the plant in central Mexico, which will have a capacity of 400,000t/d and supply the automotive sector.
"Continued growth in Mexico's automotive production presents an opportunity for Nucor to increase our sales to this important market," Nucor CEO John Ferriola said.
Automotive production is expected to rise to 5.3mn from 3.4mn vehicles annually by 2020, the company said.
JFE confirmed in March that the companies were in talks regarding the plant, which it said was expected to begin production in 2019.
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News in: Mining & Metals (Mexico)
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The description contained in this profile was extracted directly from an official source and has not been edited or modified by BNamericas researchers, but may have been machine...
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