1/27/2011 12:37:00 PM
NEWS BRIEFS
Nucor Fastener Segment Sales Up as Demand Solidifies
Nucor Corp. reported cold finished steel sales, including Nucor Fastener, rose 40% to 462,000 tons during 2010.
Fastener segment results during the fourth quarter included a 28% gain in sales to 111,000 tons.
Overall 2010 sales rose 42% to $15.84 billion. Net earnings totaled $134.1 million, compared with a net loss of $293.6 million during 2009. Average sales price per ton increased 13% while total tons shipped to outside customers increased 25% from 2009 levels.
Nucor said overall utilization rates continued to improve in January. In addition, recent price increases for all steel mill products are expected to have a positive impact on earnings as we return to profitability in the first quarter and beyond.
“We believe end markets are experiencing some real demand improvement that will continue throughout 2011.”
However, the steelmaker warned of ongoing volatile raw material costs during the first quarter. ©2011 GlobalFastenerNews.com
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