Nucor Endows Professorship at The South Dakota School of Mines
CHARLOTTE, N.C., Jan 23, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Nucor Corporation (NYSE: NUE) announced today that it has donated $1 million to create the "Nucor Endowed Professorship for Metallurgical and Steelmaking Technologies" in the Materials and Metallurgical Engineering Department at the South Dakota School of Mines and Technology.
The new chair will provide critical support for steelmaking research and ensure the continuation of higher education in the field. It is one of the largest corporate cash donations in the school's history and the second such endowment in Nucor's history. In May 2006, Nucor announced it would endow the "F. Kenneth Iverson" chair in the Materials and Metallurgical Engineering Department at the University of Missouri-Rolla.
"On behalf of the entire university, I would like to thank Nucor for its generous gift," said Charles Ruch, President of the School of Mines. "We are fortunate to have a visionary partner such as Nucor to help support our mission to develop engineers and scientists that help our industries evolve and our nation respond to the unprecedented challenges facing today's world."
Nucor's endowment supplements state-budgeted funds and will be used to support graduate and undergraduate students working with the named faculty. Funds will also be used to support travel, dues, professional enrichment and other necessary research and teaching expenditures.
A state-supported university located in Rapid City with about 2,100 full- and part-time students, the School of Mines has enjoyed an extraordinary nationwide reputation for excellence in engineering, the physical sciences and technology for more than 100 years. Its Materials and Metallurgical Engineering Department has five full-time faculty positions. The School of Mines plans to have the endowed professorship in place for the start of the 2008-09 academic year.
"Nucor understands the critical need to continually develop new technologies that support the steel industry's next generation of improvements in productivity and environmental performance," said Dan DiMicco, Nucor's Chairman, President and CEO. "Early adoption of breakthrough technologies and development of a cutting-edge work force are critical elements that have fueled our growth over the past 40 years. We are proud to announce this investment to support tomorrow's breakthroughs."
Nucor's donation highlights a long-term relationship between the steel company and the School of Mines. Nucor has hired the university's metallurgical engineering graduates and supported the department for years.
"Nucor has been a valued partner with the School of Mines for many years," Ruch said. "Nucor appreciates our unique commitment to providing a traditional metallurgical engineering program that produces future leaders for the steel industry."
Nucor and affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products produced include: carbon and alloy steel - in bars, beams, sheet and plate; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; light gauge steel framing; steel grating and expanded metal; and wire and wire mesh. Nucor is North America's largest recycler.
SOURCE Nucor Corporation