Nucor Fastener Shipments Rise
Nucor Fastener Shipments Rise
Jason Sandefur
Nucor Corp. reported cold finished steel sales, including fasteners, increased 51% to 136,000 tons during the first quarter of 2008.
Nucor had record first quarter net earnings, with profit increasing 8% to $409.8 million. Q1 sales jumped 32% to a record $4.97 billion due to a 15% increase in average steel sales price per ton and an 11% increase in average steel products sales price per ton.
Nucor said revenue increase was also due to the February 29, 2008, acquisition of the SHV North America Corp., which included SVH business the David J. Joseph Co., for $1.4 billion.
During Q1 the average scrap and scrap substitute cost per ton used increased 29% to $333, while total energy costs rose $4 per ton. Web: nucor.com �2008 FastenerNews.com
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