Nucor signs Memorandum of Understanding for joint venture with Duferco Group

Nucor Corporation announced the signing of a Memorandum of Understanding with the Duferco Group located in Lugano, Switzerland to establish a joint venture for the production of beams in Italy and the distribution of beams in Europe and North Africa.

The two parties will immediately begin the tasks necessary in order to establish the joint venture company by mid 2008. The joint venture will encompass the Duferco Group’s Duferdofin subsidiary and associated distribution companies.

Production of beams and other long products from Duferdofin’s plants in San Zeno, Pallanzeno and Giamorro exceeded 900,000 MT in 2007. A new merchant bar mill is under construction in Giamorro and is expected to be operational in the fall of 2008.