Starting morning of December 21, 2020, the stars and stripes flag stopped flying next to the Italian one in San Zeno Beam Mill’s entry hall at Duferdofin in Brescia in Italy. Duferco Italia Holding President Mr Antonio Gozzi said “After nine months of amicable but articulated discussions, we have come to the conclusion of the financial closing process that states the end of the joint venture between Nucor and Duferco in Duferdofin, leader player in Italy in the production of beams and profiles for construction. These have been 12 remarkable years of productive collaboration with the first US steel producer, years in which our company has grown from a technical, financial and economical point of view thanks to the contribution of our American partner. Our only regret is that in this period we were unable to achieve the results that Nucor legitimately expected from the JV.”
He added “Unfortunately, the Covid pandemic and the consequent cut in Nucor’s overall investment budget didn’t match with our willingness to proceed with the already deliberated and approved investment in SanZeno new rolling mill. This caused one of those situations of strategic divergences that sometimes happen, even among the most collaborative partners.”
Duferdofin Nucor had announced on November 13, 2020 that after 12 years of productive partnership the Joint Venture between Duferco and Nucor is approaching to end. The two partners reached a friendly agreement stating that Duferco will reacquire the 50% now belonging to Nucor, becoming the exclusive owner of the company. The JV created Duferdofin Nucor, the first producer of steel beams for construction in Italy with a capacity of more than 1 million tonnes per year. Duferco also confirmed the investment for the new rolling mill in the plant of San Zeno Naviglio in Brescia. It is an investment worth 180 million Euro, that will create 150 new jobs and allow Duferco to strengthen its key role in Europe as a producer of steel profiles.