SOURCE: Industrial Info Resources

Industrial Info Resources

April 28, 2011 06:30 ET

North American Steel Industry Bets on Future With $19.9 Billion Project Development, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - Apr 28, 2011) - Researched by Industrial Info Resources (Sugar Land, Texas) -- With demand for steel improving, steel mill capacity utilization rates have risen to more than 70%, driving North American steel manufacturers to invest in capital expenditures this year. Steel producers are positioning themselves for growth after a significant decline in sector activity during the past two years. Notable companies involved in big expansions in the U.S. include Nucor Corporation (NYSE:NUE) (Charlotte, North Carolina), United States Steel Corporation (NYSE:X) (Pittsburgh, Pennsylvania) and Steel Dynamics Incorporated (NASDAQ:STLD) (Fort Wayne, Indiana). "We've noticed a significant uptick in project activity, both capital and maintenance expenditures, in the U.S. steel manufacturing sector since the beginning of the year," said Joseph Govreau, VP Metals & Minerals for Industrial Info.

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    Joe Govreau