Friday, May 7, 2010

Nucor (NYSE:NUE) Acquiring Companies, Own Shares

Nucor (NYSE:NUE) seems to be getting on surer footing in a tough steel market, as residential and non-residential construction markets continue to be tough.

Expansion through acquisition and acquiring shares in their own company has been much of the focus recently, as they prepare for what they hope is an upswing in the steel market.

Nucor has increased production at their steel mills from last year, and is looking for an even better quarter than the the first quarter.

Along with competitor Gerdau Ameristeel (NYSE:GNA) (TSE:GNA), they've also commited to keeping prices for wide-flange steel beams where they're at now, as they want to continue the industry on a more even keel, after several years of extreme challenges.

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