CHARLOTTE, N.C. — The leader of Nucor Steel predicts a long, profitable future for the Nucor West Virginia plant set to begin operations next year.
Nucor Chair and CEO Leo Topalian said during an second quarter earning’s call earlier this week the plant, which is under construction at Apple Grove near Point Pleasant, is going to join a company that is “firing on all cylinders.”
“27 (2027) will be that ramp-up year (Nucor West Virginia), Topalian said. “I’m not sure they are going to contribute (in company profits) in 27 but certainly as we get into (2028) they are going to find their footing.”
He predicted the plant will continue to contribute “for the next two, three to four decades.” Topalian said the plant would increase Nucor’s earnings profile.
Nucor’s second quarter earnings report said commissioning at the plant will continue through this calendar year including:
–each area of new sheet mill is inspected, tested and prepared for start-up
–ran first coil through pickle line in June
–expanded equipment commissioning across the site and will continue through the year
The earning’s information also listed what will happen at the plant in 2027:
–initial focus is on safe and reliable performance
–intentional multi-phased ramp to full run-rate
–capacity utilization and product capabilities will expand through 2027 and 2028
Nucor reported $1.2 billion in net earnings for the second quarter.
Nucor West Virginia is a $4 billion project. It sits on a 1700-acre site along the Ohio River. The plant will eventually have a three million-ton sheet capacity.