Nucor Corporation (NYSE: NUE) announced today that it will reorganize the Company's plate group, including ceasing production at Nucor Steel Longview, LLC. All Nucor Steel Longview teammates will be offered employment opportunities at other Nucor divisions.
Purchased by Nucor in 2016 for approximately $29 million, the mill produces heavy steel plate and has a rated annual capacity of 100,000 tons. The assets at Longview will be evaluated and deployed across Nucor's mills where appropriate.
Members of the West Virginia Senate and House of Delegates convened in special session Monday to consider a heavy industry tax credit for major industry, including a steel manufacturer who could locate a facility in Weirton.
Gov. Jim Justice issued a proclamation Saturday night calling the Legislature into special session Monday morning. The proclamation included six bills, including tax incentives based on certain investments and employment commitments aimed at new and current heavy industries that require substantial investments of capital and labor.
