Nucor acquires precision castings company in Mexico
Nucor Corporation (Charlotte, North Carolina) announced it is acquiring Corporacion POK, S.A. de C.V. (POK), a fully integrated precision castings company with a facility in Guadalajara, Mexico. POK produces complex castings and precision machined products used by the oil and gas, mining and sugar processing industries.
“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,” said John Ferriola, chairman, CEO and president of Nucor Corporation. “Expanding our capability to produce value-added products is a key component of our strategy for long-term profitable growth.”
POK produces precision castings using steel, bronze, iron and specialty exotic alloys. In a news release, Nucor said “the acquisition of POK will enable Nucor to broaden its current product offerings and gives the company the opportunity to increase sales into new and existing markets. POK currently employs 425 people at its Guadalajara production facility.”