(Energy Analytics Institute, Jared Yamin and Ian Silverman, 29.Nov.2018) — Nucor Corporation announced it will acquire Corporacion POK, S.A. de C.V., which produces complex castings and precision machined products used by the oil and gas, mining and sugar processing industries.
POK, founded in 1894, is a fully integrated precision castings company with a facility in Guadalajara, Mexico.
“This acquisition supports Nucor’s strategy in Mexico, which is focused on downstream processing for high-quality, value-added applications targeting niche markets,” said Nucor Corporation Chairman, CEO and President John Ferriola.
POK is a natural fit for Nucor’s existing cold finish businesses and complements Nucor’s acquisition of a cold finish facility in Monterrey last year. The POK acquisition will allow Nucor to broaden its current product offerings and allow it to increase sales into new and existing markets. POK currently employs 425 people at its Guadalajara production facility.
In addition to the Nucor ATP Mexico cold finish facility in Monterrey, Nucor’s current Mexican operations include several sheet steel processing facilities as part of its Steel Technologies joint venture with Mitsui & Co., as well as a steel sales office. Nucor is also building a galvanizing line with its joint venture partner, JFE Steel Corporation of Japan, to serve the Mexican automotive market.
“Our company has had a presence in Mexico for more than a decade. We know the market and the customers there,” said Ferriola. “Expanding our capability to produce value-added products is a key component of our strategy for long-term profitable growth.”