Nucor Profit Triples
April 21
00:00
2005
Nucor Profit Triples
Jason Sandefur
Nucor Corp. announced net sales for the first quarter of 2005 rose 45% to $3.32 billion, while net income more than tripled to $354.7 million. The average sales price per ton increased 46% compared with the first quarter of 2004. However, the Q1 average sales price per ton dipped 5% from the previous quarter.
Charlotte, NC-based Nucor reported Q1 steel production slipped 3% to 5.1 million tons. Shipments declined 2% to 5.04 million tons.
In February Nucor completed its acquisition of Fort Howard Steel’s operations in Oak Creek, WI, for an undisclosed amount. This facility produces cold finish bar product, with 140,000 tons of annual capacity. Web: nucor.com �2005 FastenerNews.com
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