Nucor acquires Mexican precision castings company POK

Nucor acquisition of POK : US steel producer Nucor has acquired a Mexican precision castings company Corporation POK which has a facility in Guadalajara.

POK is engaged in production of complex castings and precision machined products to original equipment manufacturers in industries like Oil & Gas, Mining, Sugar Mills and Pumps & Valves.

The precision castings company produces a range of precision castings using steel, iron, bronze and specialty exotic alloys.

Commenting on Nucor acquisition of POK, John Ferriola – Chairman, CEO and President of Nucor, said: “Our company has had a presence in Mexico for more than a decade. We know the market and the customers there. This acquisition supports Nucor’s strategy in Mexico, which is focused on downstream processing for high-quality, value-added applications targeting niche markets.

“Expanding our capability to produce value-added products is a key component of our strategy for long-term profitable growth.”

Established in 1894, POK with its long operating history and strong management team, is a natural fit for its existing cold finish businesses while complementing its acquisition of a cold finish facility in Monterrey in 2017, said Nucor.

Further, Nucor believes the acquisition of POK will help it expand its current product offerings and also bring it increased sales in new and existing markets. Currently, the Mexican precision castings company has 425 employees at its Guadalajara production facility.

Apart from the Nucor ATP Mexico cold finish facility in Monterrey, the current Mexican operations of Nucor include various sheet steel processing facilities as part of its Steel Technologies joint venture with Mitsui and also a steel sales office.

Nucor alongside another joint venture Japan-based JFE Steel to build a galvanizing line to serve the automotive market in Mexico.