More expansion on tap for Nucor: Charlotte steelmaker eyes 40% jump in capital spending next year

CHARLOTTE, N.C. — Nucor Corp.’s aggressive expansion over the last few years will continue into 2019, with the Charlotte-based steel company eying a record $1.4 billion in capital spending next year.

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Chief Financial Officer Jim Frias told analysts Thursday that “next year’s CapEx is pegged to be more than 40% higher than this year’s.” Nucor (NYSE: NUE) has spent $624.7 million on capital expenditures through the first nine months of 2018, and it expects the full-year figure to be close to $1 billion.

Nucor's record for capital spending is $1.2 billion, set in 2013.

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