Nucor announces acquisition of Mexican steel mill

Nucor Corporation, the parent steel component manufacturer in Charlotte, North Carolina, has announced its decision to expand its presence in Mexico through a new acquisition. In a press release, the company announced the acquisition of the steel company Corporacion POK, SA de CV (POK).

Commenting on the acquisition, John Ferriola, Chairman, CEO and President of Nucor Corporation, said it would help the company expand its capabilities in the Mexican market, where Nucor has been in business for over a decade. The acquisition is in line with the company's strategy to explore post-processing opportunities that provide high-quality applications to niche markets. The expansion will ensure long-term profitable growth for its Mexican operations, he added.

POK is considered a natural resource for existing businesses in Mexico. In addition, it is expected to complement operations at the recently acquired Monterrey facility. New product offerings through acquisitions will enable the company to leverage existing markets and expand into new markets. Nucor Corporation, in partnership with Japan's JFE Steel Corporation, is currently involved in the construction of a new electroplating line to better serve the growing automotive market in the region.

Founded in 1894, POK owns a full-scale factory in Guadalajara employing approximately 425 people.