4/25/2012 1:16:00 PM
HEADLINES
Fastener Segment Sales Up at Nucor Corp.

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Nucor Corp. reported Cold Finished Steel sales, including revenue from Nucor Fastener, increased 3% to 138,000 tons in the first quarter of 2012.

Overall consolidated net sales increased 5% to $5.07 billion during Q1, boosted by a 6% increase in average sales price per ton. Consolidated net sales increased 5% compared with $4.83 billion in the fourth quarter of 2011 due to a 1% increase in average sales price per ton and a 4% increase in total tons shipped to outside customers.

First quarter downstream steel products shipments to outside customers increased 3% over the first quarter of 2011 and decreased 3% from the fourth quarter of 2011.

The average scrap and scrap substitute cost per ton used during the first quarter of 2012 was $445, an increase of 5% over $424 in the first quarter of 2011 and an increase of 1% compared to $441 in the fourth quarter of 2011.

In early April Nucor Fastener won approval from the DeKalk County Council for an $8.7 million tax phase-in for upgrades to create 20 new jobs at its St. Joe, IN, facility. The new jobs would pay $32 per hour plus benefits. 



The 10-year phase-in will reduce property taxes on $5.9 million in new machinery and $2.7 million in building upgrades, KPCNews reports. The investments will increase the facility’s footprint by roughly 8%. 



Part of the strategy is to improve its service to existing customers, Nucor Fastener’s J.J. McCoy told GlobalFastenerNews.com in March.  



“The overriding reason for this is to take care of our customers, and make sure we’re shipping parts and products in a timely manner,” McCoy told GlobalFastenerNews.com. 



But growth is also influencing the move. “We see opportunities in the market,” McCoy added. ©2012 GlobalFastenerNews.com