Nucor Corp to close Denton plant, 116 layoffs

Nucor Corp. will shut down its plant in Denton as part of the closure of its Nuconsteel division.

The Charlotte, N.C.-based company notified the Texas Workforce Commission that the closure will result in 116 layoffs in Denton.

Nucor said in a news release that it is getting out of the business of fabricating light gauge steel framing.

The end of Nuconsteel also means the closure of a plant in Dallas, Georgia, the company said.

Donovan Marks, Nucor director of human resources, said in a letter to the Workforce Commission that the Denton layoffs will begin on Jan. 20 and could last several months as the plant is closed down.

He said that employees who are laid off before the 60-day notice period of March 5 will be entitled to continuation of pay and benefits.

Nucor reported net earnings of $134.1 million in 2010. The company’s shares were trading at $41.04 on Monday afternoon, down about a third of a percent for the day.

Source: Biz Journals