hund
International Joint Ventures Nucor has already invested in additional alternative metallics strategies. In April 2003, Nucor announced the Green Pig Iron project with Companhia Vale do Rio Doce in Brazil to produce 380,000 metric tons of pig iron with mini-blast furnaces. This project is scheduled for startup in late 2004 and has the potential to double in size. In addition, Nucor is a major partner in a joint venture with Rio Tinto, along with Mitsubishi Corporation and Shougang Corporation for the construction of a commercial scale HIsmelt plant in Kwinana, Western Australia. This plant is an 800,000 metric ton facility that converts iron ore to liquid metal through the injection of non-coking coal and iron ore into a molten iron bath. Startup is slated for November 2004 and has significant additional expansion capabilities. Nucor has various options for the pig iron produced by the HIsmelt facility. Nucor Comments on HIsmelt's Signing of Agreement for Technology Transfer Into China CHARLOTTE, N.C., Aug. 28 /PRNewswire-FirstCall/ -- Nucor Corporation (NYSE: NUE) is pleased with the first HIsmelt technology sale to China. Nucor is a 25% participant in the joint venture with Rio Tinto, Mitsubishi Corporation and Shougang Corporation for the construction of a commercial scale HIsmelt plant in Kwinana, Western Australia. In addition, Nucor and Rio Tinto have a joint global technology marketing agreement. The news release issued by Rio Tinto is attached, below. RIO TINTO News Release 28 August 2003 HIsmelt signs agreement for technology transfer into China HIsmelt Corporation's affiliate Technological Resources Pty Ltd (wholly owned subsidiaries of Rio Tinto) today signed a HIsmelt Process Licence with the Laiwu Steel Group Ltd of China to allow for the development of an ironmaking facility using world leading HIsmelt technology. Through this agreement, Laiwu Steel plans to replicate the 800,000 tonnes per year HIsmelt Plant currently under construction in Kwinana, Western Australia. The new plant will be constructed at Laiwu City, Shandong Province, China. Rio Tinto Iron Ore Chief Executive, Mr Chris Renwick, said the signing is a further vote of confidence in HIsmelt, as it represents the first external application of the HIsmelt process. Mr. Renwick said, "This agreement recognises the evolution of the HIsmelt technology which has been developed and demonstrated by Rio Tinto in Australia over the past ten years. "It also reflects the growing awareness of the significant potential of the HIsmelt process to revolutionise ironmaking and provide a premium metallic for the global steelmaking industry. "The agreement will be the first of many opportunities for the Chinese iron and steel industry to take advantage of this new technology. More importantly, it shows that the future is very bright for Australia's deeper economic relationship with China." HIsmelt is a high intensity direct smelting process in which iron ore fines and/or other iron containing materials and non-coking coals are injected directly into a molten iron bath to produce a high quality iron product. It is a potential replacement for the traditional blast furnace method of ironmaking and a new source of low cost high quality iron units for the electric arc steelmaking industry. Construction of the Kwinana HIsmelt plant, which is owned jointly by Rio Tinto, Nucor Corporation, Mitsubishi Corporation and Shougang Corporation, commenced in January, with commissioning expected by the end of 2004. CVRD / Nucor Announce Pig Iron Project CHARLOTTE, N.C., April 24 /PRNewswire-FirstCall/ -- Nucor Corporation (NYSE: NUE) and Companhia Vale do Rio Doce (NYSE: RIO) announced today that they have signed an agreement to construct and operate an environmentally friendly pig iron project in northern Brazil. The project will utilize two conventional mini-blast furnaces to produce about 380,000 metric tons of pig iron per year in its initial phase, using CVRD iron ore from its Carajas mine in northern Brazil. The charcoal source will be exclusively from eucalyptus trees grown in a cultivated forest of 82,000 acres with the total project encompassing approximately 200,000 acres in northern Brazil. CVRD and Nucor will form a joint venture company to operate the facility. It is anticipated that Nucor will purchase all of the production of the plant. Nucor will invest $10 million in the project while CVRD's equity contribution will be the land and forest assets (currently owned by its wholly controlled subsidiary CELMAR SA). The total capital of the project will be about $80 million. The ownership will be split 78% CVRD/ 22% Nucor. "The use of a cultivated forest to produce charcoal allows for an environmentally friendly approach to pig iron production since the forest will consume more carbon dioxide than will be emitted by the mini-blast furnaces," stated Dan DiMicco, Nucor Vice Chairman, President and CEO. "We look forward to a long relationship with CVRD and hope this is only the first of many projects together." "This agreement is the first step in our partnership with Nucor since we announced our intentions to cooperate one year ago," Roger Agnelli, CVRD CEO commented. "This undertaking is to leverage iron ore sales and to indirectly increase CVRD's penetration in the North American market, which is in line with the strategy of generating value for shareholders by focusing on mining. It is a victory for both companies, Brazil and the environment." Nucor is the largest steel producer in the United States and is the nation's largest recycler. Nucor and affiliates are manufacturers of steel products, with operating facilities in fourteen states. Products produced are: carbon and alloy steel -- in bars, beams, sheet and plate; steel joists and joist girders; steel deck; cold finished steel; steel fasteners; metal building systems; and light gauge steel framing. CVRD is the largest diversified mining company in the Americas, with a market capitalization of approximately US $11 billion. CVRD is the world's largest producer and exporter of iron ore and pellets and one of the leading global producers of manganese and ferro alloys. CVRD produces bauxite, gold, kaolin, potash, alumina and aluminum, and is a major logistics player in Brazil. The company also holds some stakes in steel companies in South America and in the U.S. Nucor Announces Strategic Alliance With Truswal; Partnership to Develop Leading Software for Light Gauge Steel Framing CHARLOTTE, N.C., Jan. 25 /PRNewswire-FirstCall/ -- Nucor Corporation (NYSE: NUE) announced today that it has entered into a long-term strategic alliance with Truswal Systems Corporation, a leading supplier of engineered products and state of the art software for the building components industry. The alliance includes a software development and license agreement which will result in development of proprietary design, engineering and layout software. Nucor recently announced the acquisition of Itec Steel, Inc., a company specializing in light gauge steel framing systems for the commercial and residential construction markets. Itec will use Truswal's software in its operations and Truswal will market Itec's light gauge steel framing products through its fabricator network. Initial efforts will focus on modifying Truswal's software to handle the design, engineering and layout of Itec's proprietary roof and floor truss system. Efforts will then expand to other framing systems. The objective is the development of a "whole building" solution for light gauge framing. "Nucor intends to become a substantial player in the light gauge steel framing industry," said Hamilton Lott, Nucor executive vice president. "We are committed to developing the resources that we need to accomplish this. Our alliance with Truswal will supply Itec with the right tools to significantly increase output." Nucor is the largest recycler in the United States. Nucor and its affiliates are manufacturers of steel products, with operating facilities in ten states. Products produced are: carbon and alloy steel -- in bars, beams, sheet, and plate; steel joists and joist girders; steel deck; cold finished steel; steel fasteners; metal building systems; and light gauge steel framing. Nucor-Yamato Agrees to Explore Building Rail Mill With Voest Alpine Schienen CHARLOTTE, N.C., Nov. 27 /PRNewswire/ -- Nucor-Yamato Steel Company and Voest-Alpine Schienen GmBh & Co. KG have signed an agreement to explore the building of a rail mill in North America. (Photo: http://www.newscom.com/cgi-bin/prnh/20000317/NUELOGO ) The mill will use the latest technology to produce high quality rail, in weld-free lengths up to 320 feet. The venture intends to focus on production and marketing of head-hardened rails. Voest-Alpine Schienen is the rail-making unit of Voest Alpine Stahl group, Austria's largest producer and one of the nation's largest industrial enterprises. Nucor-Yamato Steel is the largest United States producer of carbon steel wide flange beams. The Blytheville, Arkansas based joint venture is 51 percent owned by Nucor (NYSE: NUE) and 49 percent owned by Yamato Kogyo of Japan. The rail mill project is the latest of several recent expansions for Charlotte-based Nucor and its affiliates. Within the past year, Nucor has: * started production at its first plate mill in Hertford County, North Carolina. * expanded its sheet steel mill in Berkeley County, South Carolina. * begun construction of a steel joist and deck plant in Chemung, New York, scheduled to open in 2001. * launched a joint venture to develop strip casting technology with Australia's Broken Hill Proprietary Corporation and Ishikawajima-Harima heavy industries. Nucor Signs Letter of Intent for New Steelmaking Technology CHARLOTTE, N.C., Jan. 27 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced that it has signed a letter of intent with BHP (The Broken Hill Proprietary Corporation - Melbourne, Australia) and IHI (Ishikawajima-Harima Heavy Industries - Tokyo, Japan) for establishment of a joint venture for the worldwide licensing of patents and technology, and sale of key equipment required for strip casting. This venture will combine the strengths of the three organizations in the final stage of strip casting development. Nucor will have exclusive rights to the technology in the United States and Brazil, while BHP will retain exclusive rights to the technology in Australia, New Zealand, and Southeast Asia. The joint venture will market strip casting technology throughout the remainder of the world. Nucor, the world's largest operator of thin-slab sheet steel plants, plans to build a strip casting facility at one of its existing sheet steel mills to continue the final development of this new technology. Construction is anticipated to start after satisfactory resolution of (1) regulatory approvals, (2) tax matters, (3) land, utility, equipment and other contracts. Start-up is expected to be in 2001. A combined team of engineers and operators from Nucor, BHP, and IHI will be located at the facility to assist engineering, construction, and commissioning. Key plant components will be relocated from BHP's "Project M" demonstration plant in Port Kembla, Australia. Following commissioning and final technology development, the strip caster is expected to produce more than 400,000 tons per year of carbon steel sheet products between 0.04 inch (1mm) and 0.100 inch (2.5mm) thick. "Strip casting ranks as one of Nucor's most important development initiatives," said David Aycock, Nucor's Chairman and Chief Executive Officer. "We have shown over the years that we're not afraid to risk investing in new technologies, if they're worth it.