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Nucor to replace Vale as JFE's US steel JV partner

ABSTRACT

Nucor Corporation, headquartered in North Carolina of the U.S. and also the largest steelmaker in North America, will replace the world's largest iron ore miner - Vale - as the new partner of JFE Steel, Japan's second largest integrated mill in California Steel Industries (CSI) in Fontana of California, U.S., with the shareholding changing to 51:49 from the original 50:50, according to JFE's release late on Monday.
Upon the completion of all the procedures including the approvals from the related authorities, Nucor will be holding 51% CSI shares and JFE the balance. CSI is capable of producing 3 million short tonnes (ST)/year of hot-rolling, 1.1 million ST/y of cold-rolling, 700,000 ST/y of galvanizing with two lines, and

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