Import Decline Boosts Nucor Fastener Sales

Jason Sandefur

A “significant drop in imports” helped Nucor Corp. achieve 27% growth in shipments of cold finished steel products, including fasteners, during the first nine months of 2007.
Overall sales during the third quarter of 2007 increased 8% to $4.26 billion, but net earnings dropped 27% to $381.2 million. Average sales price per ton increased 5% in Q3, and average scrap and scrap substitute cost per ton grew 8% to $277.
Sales during the first nine months of 2007 improved 8% to $12.2 billion, while net earnings dropped 18% to $1.1 billion. Web: nucor.com �2007 FastenerNews.com