Nucor, JFE Steel form joint venture to supply automotive market in Mexico

Nucor Corp., Charlotte, N.C., has announced the formation of a 50-50 joint venture with JFE Steel Corp. of Japan to build and operate a plant in central Mexico to supply that country's automotive market.

The plant is expected to cost $270 million and have a capacity of 400,000 tons per year of galvanized sheet steel. The two companies each will supply an equal amount of substrate to be processed at the new facility. Operations are expected to begin in the second half of 2019.