Nucor Corp. has added a metalcasting operation to its manufacturing portfolio with the purchase of Corporacion POK, S.A., a Guadalajara, Mexico, company with multiple product lines. The foundry is described by Nucor as a “precision castings company": it casts steel, bronze, iron, and specialty steel components for oil-and-gas, mining, and industrial buyers, using no-bake sand, lost wax, and ceramic shell molding processes.
POK has 425 employees at the Guadalajara foundry, which includes design capabilities, patternmaking, heat treating, finish machining, quality control capabilities.
Nucor stated the acquisition would help it to expand its manufacturing portfolio and to increase sales in new and existing markets. The value and other terms of the purchase was not announced.
"Our company has had a presence in Mexico for more than a decade,” according to Nucor chairman, CEO, and president John Ferriola. We know the market and the customers there.
"Expanding our capability to produce value-added products is a key component of our strategy for long-term profitable growth," he added.
Nucor is known best for its Nucor Steel holding, the largest primary steelmaker in North America and one of the pioneers of the mini-mill steelmaking model. But, Nucor has a number of other subsidiaries producing products like cold-finished bars, steel grating, and steel building products. It also owns steel distributorships and David J. Joseph Co., a major scrap brokerage.
In Mexico, Nucor operates a cold-finishing plant for steel bars in Monterrey, several processing centers for sheet steel, and it’s building a joint-venture galvanizing line for automotive steel strip with JFE Steel Corp., a Japanese steelmaker.