Nucor chief highlights West Virginia mill project during call with investors

Nucor’s chief executive officer touted the company’s newly-announced investment in West Virginia during a conference call with investors.

Leon Topalian

“Two weeks ago we announced that Mason County West Virginia, will be the location of our new state-of-the-art, 3-million-ton sheet mill,” said Leon Topalian, president and chief executive officer of Nucor Corp., noting the location would help the company’s reach into the Midwest and Northeast.

“Once operational, our West Virginia mill will have some of the most advanced capabilities and one of the lowest carbon footprints of any sheet mill in the world. We are very excited to begin work with the local community in Mason County on this transformational project that will create substantial long-term value.”

Topalian was speaking during a conference call to discuss the company’s fourth quarter and year-end financial position.

“The new mill in West Virginia we are incredibly excited about because it provides a long-term differentiated value proposition for our customers,” he said in response to a question about the company’s strategy over the next year.

The company announced this month its plan to build the new Mason County mill expected to employ about 800 full-time workers. The mill will have the capacity to produce three million tons of steel annually and will be equipped to produce 84-inch sheet products.

Construction is expected to take two years. Additional sites in northern West Virginia are also under consideration for a transload and processing facility.

West Virginia lawmakers this month voted in special session to adopt included a bundled set of incentives for the company, including tax breaks and funding for site preparation.

Nucor is the largest steel producer in the United States, as well as the largest “mini-mill” steelmaker. It is also the biggest recycler of scrap in North America.

“As we move into 2022, we are not letting up when it comes to executing our strategy,” Topalian said.

He described a revolution in the steel industry driven by economic changes and lower emissions. “The green economy is being built on steel,” he said.

Topalian also described opportunities from the infrastructure bill passed by Congress. Senators Joe Manchin, a Democrat, and Shelley Moore Capito, a Republican, voted for the bill, as did Congressman David McKinley, a Republican from Wheeling. Representatives Alex Mooney of Charles Town and Carol Miller of Huntington, both Republicans, voted against it.

“With approximately half of Nucor projects going into the construction market we stand ready to help our country meet its infrastructure needs,” Topalian told investors.





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