We will continue to work hard to earn that business well into the future. And congrats on the exceptional quarter. The ITC is conducting several more five-year sunset reviews this year off key trade orders on flat-rolled products. And it mentioned that the Company also produces carbon and alloy steel. MONTGOMERY - Governor Kay Ivey today announced that Nucor Corp. plans to invest approximately $125 million to open an advanced manufacturing facility in Alabama where a new business unit, Nucor Towers & Structures, will produce transmission towers. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; overhead doors; steel grating; and wire and wire mesh. Leon joined Nucor in 1996 as a project engineer at Nucor Steel - Berkeley in Huger, South Carolina and was promoted to Cold Mill Production Supervisor in 1998. Weve cut our pig use by about 50%, which also has led to a reduction in greenhouse gas emissions and has really been a key part of supporting our record earnings. I mentioned our reliance on pig is half of this year what it was last year. Overall, our steel products segment continues to benefit from strong nonresidential construction demand. The operations include international trading and sales companies that buy and sell steel and steel products manufactured by the company and others. Mr Topalian owns over 3,000 units of Nucor stock worth over $20,706,642 and over the last 6 years he sold NUE stock worth over $9,685,670. Nucor Corp. engages in the manufacturing of steel and steel products. Cision Distribution 888-776-0942 Cornerstone and the insulated metal panel building business is doing that. About NucorNucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. The Raw Materials segment consists of direct reduced iron, and ferrous and nonferrous metals. sale But I want to remind you how strong those highs were. Through her own research and in talking with her physicians, Kim discovered that monoamniotic twins have a higher success rate if the mother can be hospitalized and monitored at 24 weeks development. You probably know better than we do. Nucor said several factors are driving increased demand for utility infrastructure, including grid hardening, renewable energy projects, building a nationwide network of EV chargers, natural disasters and replacements and population growth. The election and announcement took place at AISI's board of directors meeting held at AISI headquarters, as well as virtually. Strong financial results were recorded by a number of our businesses, including bar, plate, sheet, structural, joist, deck, buildings, tubular and our raw material operations. Number one, weve been making some changes in our businesses through the years, and weve talked about some of those, from restructuring some of our business to bringing on a construction solutions team, even alignment within our groups to better, more effective commercial practices and expectations that drive higher EBITDA margins. Nucor is North America's largest recycler. Please go ahead, sir. So just a big shout-out to all of our downstream product groups. And then, you think about the rest of the warehousing space with companies like Amazon, the Gigafactories, the chip factories, and hopefully, well see that pass here in Washington D.C. and the CHIPS Act and that incentive package supported to build an onshore and reshore American manufacturing. The second, Gallatins modernization and expansion was completed in June. For example, our Nucor Steel Gallatin modernization and expansion project is now fully operational, having completed the last of their project-related outage work on June 6th. Wanna wing it $0.69 Cent wings are available now through Saturday! and Following the completion of the sale, the chief executive officer now directly owns 126,809 shares of the company's stock, valued at $17,082,440.39. So pretty excited about it. Past performance is a poor indicator of future performance. By fourth quarter, we expect to be at nameplate capacity. Before we get to our second quarter results, I want to highlight some changes we've made to our executive. So I guess you cant hear my excitement, Ill reiterate, yes, Im excited about the future of our downstream businesses. Most of the increase was in sheet and plate as we were able to take advantage of what we consider to be strong demand, leading to attractive pricing in those markets. Learn More about insider trades at Nucor. Chart Data in Insider Trading History Table. [Operator Instructions] Well now hear from Timna Tanners of Wolfe Research. And in May, the State of West Virginia approved the air quality permit for our new sheet mill in Mason County. Prices in the steel segment have softened due to import pressures coupled with overall commodity pricing declines globally. So, that business segment for us continues to operate. But, how much early demand are you seeing that -- from that materialize this year? Topalian twins' 'MoMo' survival proves miraculous. Were proud to call them Nucor team members, and the growth that theyre going to bring in the coming years is something incredibly exciting for us. 1) Design-oriented outcome: Design management involves design and management activities related to the quality of design outcomes, design delivery and/or design Click Here for Your Free Ultimate Dividend Package. That makes sense. We have also grown our workforce from 1,800 team members back in 1972 to more than 31,000 team members today and in the process created a huge amount of shareholder value. As a reminder, todays call is being recorded. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. 1 True or False: The 2022 edition construction to provide a construction. Mr. Topalian began his career with Nucor as a project engineer at Nucor Steel-Berkeley in 1996 and was promoted to Cold Mill Production Supervisor in 1998. , 1 dividend stock for a LIFETIME of income. The girls were sent home on apnea monitors to alert the family if they stopped breathing. of Nucor executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Rex, do you want to touch on the Gallatin question? Leon Topalian best website builder Nucor has introduced Elcyon, the company's new sustainable heavy gauge steel plate product made specifically to meet the growing demands of America's . The largest trade he's Learn More about Leon J. Topalian's net worth. The most recent stock trade was executed by Kenneth Rex Query on 3 February 2023, trading 1,962 units of NUE stock currently worth $349,216. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. brought Thanks, Leon. Please go ahead. Im going -- sorry, Curt, was talking about West Virginia, which Ill hold that for a moment and share that here perhaps a little later to the question or a follow-up. Subscribe to our Daily Headlines newsletter. . Leon Topalian presided over a record-shattering year at Nucor Corp. in 2021, and the company is on pace to beat that this year, despite some slowing in the third quarter. 11 transactions in Nucor Corp (NUE) over the past 5 years, including 0 buys and 11 sells. side will be mostly organic growth from here. And how deep is your pipeline of potential targets right now? This segment sells its ferrous scrap to electric arc furnace steel mills and foundries for manufacturing process; and nonferrous scrap metal to aluminum can producers, secondary aluminum smelters, steel mills and other processors, and consumers of various nonferrous metals. where Nucor has a long history and presence throughout the state," said Leon Topalian, Chair, President and CEO of Nucor Corp. "As America's most diverse industrial manufacturer of steel products, we will be able to . Nucor facilities in Alabama produce steel, tubular products, joists and decking and metal buildings, with locations in Birmingham, Tuscaloosa, Fort Payne, Eufaula and Decatur. offer you some insulation from the traditional cyclicality of steelmaking. While those are real, the driving demand factors in our businesses, for the most part, remain very healthy. We are the leading structural manufacturer in the United States. We continue to want to be great stewards and great shepherds to return that valuable shareholder capital. Latest: Nucor to Add Melt Ship at Kingman Bar Mill And the third, our new state-of-the-art plate mill in Brandenburg, Kentucky is anticipated to start at the end of the year. But as we start to put the mill through its paces, well go wider and wider. North Kingstown, Rhode Island, United States Food Server Carrabba's Italian Grill Apr 2018 - Jan 20212 years 10 months Warwick, Rhode Island, United States Education Endicott College Bachelor's. 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Salary: $1,000,000: Bonus: $0: Value of Stock Awards: $3,939,943: Value of Option Awards: $1,750,000: Non-Equity Incentive Plan Compensation: $4,000,000: Change in . Having joined Nucor in 1996, Mr. Topalian also has served as General Manager at two of Nucor's facilities, in Arkansas and Illinois, as well as Melting and Casting Manager, an Operations Manager, a cold mill production supervisor and a project manager. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; overhead doors; steel grating; and wire and wire mesh. A big-screen adaptation of the 1988 novel by Thomas Harris, the film quickly grew from an unexpected blockbuster to an awards season juggernaut, nabbing Oscars for Best Picture, Best Director, Best. 69-year-old suffered stroke in his N.C. home; Realtor showing house left him there. We appreciate the support we have received from the state and local officials in Alabama, including Governor Kay Ivey, Alabama Department of Commerce, State of Alabama State Industrial Development Authority, Morgan County Economic Development Association, Morgan County Economic Development Cooperative District, Morgan County, Decatur Industrial Development Board, City of Decatur, Decatur-Morgan County Chamber of Commerce, Hartselle Chamber of Commerce, and the Tennessee Valley Authority, said Laurent De Mey, General Manager of Nucor Towers & Structures. [1] References [ edit] ^ Henderson, Bruce (6 September 2019). Our ramp-up also in what we produce will be determined also by whats going on in the marketplace. of 10,962 shares made by Kenneth Rex Query Our raw materials segment outperformed first quarter results on the back of increasing selling prices for DRI and scrap. Marjorie Matthews died aged 90 on February 8 after a battle with cancer. Have a great day. Our direct returns to shareholders for the quarter was 37% of earnings. Her parents moved into the Topalians home in Florence to take care of the household while Leon was in Charlotte for work during the weekdays. or piling accessories was added to new to the 2022 Code. ICYMI: Leon Topalian, Nucor Corporation CEO and Chairman of AISI discussed WTO's ruling against U.S. steel tariffs on CNBC's Mad Money: Mihai Pirlog Jerry Inzerillo, GCEO at #DGDA, came forward to congratulate and honor the sales center team that completed their training program in the history John H. Walker, a member of the Board since 2008 and most recently its Non-Executive Chairman, will continue to serve as a Board member. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. But again, the consumptive side, really, really strong. So, when we talk about the buildup to the start-up of Brandenburg by the end of this year in the markets, it will start to serve and open up for us in renewables like offshore wind and some, even specialty pipe work. Yes. more than 21 years with Nucor. According to the SEC Form 4 filings, Leon J Topalian has made a total of And as you may recall, original stated capacity for that mill, about 1.6 million tons. Name Total COMPENSATION; Christopher J. Kearney: Our record first half results continue the history of delivering new highs in profitability and cash flow through successive economic and steel market cycles, demonstrating the sustainability and adaptability of Nucors business model. Weve made progress, and Im proud of where the team is at and where were headed. GuruFocus.com is not operated by a broker or a dealer. The largest trade he's ever made was exercising 47,581 units of NUE stock on 26 Mar 2021. Nucor Corp (NUE) Enjoy a 7-Day Free Trial Thru Mar 09, 2023! So, our opportunity really isnt to move or look for other large garage door companies. And so, Ill give you that same outlook from what we said today. But do you see other opportunities to make downstream acquisitions? Our team has done a wonderful job there navigating the challenges that that project has faced over a couple of years, and we sit ready for a start-up by the end of the year. Il s'agit d'un socit dont la forme juridique est Le code d'activit . ( View post) Feb 23. Ive got two points on raw material strategy, please. Today, Expand Beyond is a disciplined strategy for profitable growth and value creation, just as our expansion into steelmaking was 50 years ago. It is a true vote of confidence in our community when an existing business decides to further expand its operations here. It was a shock, especially the twin part. Yes. Absolutely. And with the acquisition of Summit Utility Structures and Sovereign Steel Manufacturing, weve established Nucor Towers and Structures. Topalian will take over as CEO on Jan. 1. All rights reserved. Yet only 1 percent of them are monoamniotic twins, like Isabella and Sophia. Leon J. Topalian Chair, President, and Chief Executive Officer Stephen D. Laxton Chief Financial Officer, Treasurer, and Executive Vice President David A. Sumoski Chief Operating Officer Gregory J. Murphy General Counsel and Executive Vice President - Business Services John Hollatz Let me start off with our steel products businesses. John Hollatz was promoted to Executive Vice President of Bar, Engineered Bar and Rebar Fabrication. This month, we are celebrating 50 years since Nucor was listed on the New York Stock Exchange. CFO & Treasurer and EVP Stephen D Laxton So, you can back into roughly $1 billion for the second half of the year. And its a good question in terms of how that breaks out because there are segments within the products group that will continue to have record-setting pace in performance. Hannibal Industries is in doing that. Weve certainly been seeing a little bit more of a buyer strike type of activity from -- on the customers and as it relates to sort of hot-rolled. Leon J. Topalian is President, Chief Executive Officer & Director at Nucor Corp. The News with Shepard Smith is CNBCs daily news podcast providing deep, non-partisan coverage and perspective on the days most important stories. The estimated net worth of Leon J Topalian is at least $22 Million dollars as of 2023-02-02. Mr. Kearney, who was unanimously chosen by the independent directors of Nucor's Board of Directors to serve as Lead Director, has been an integral member of the Board since he joined in 2008. 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