Nucor Corporation NUE and Trimble TRMB have entered into a third, multi-year agreement to extend their alliance in the architecture, engineering and construction (AEC) markets that started back in 2009.
Nucor will continue reaping the benefits of its investment in Trimble's Tekla Structures Building Information Modeling (BIM) software. This will be incorporated at the core of several business divisions, including Nucor Buildings Group, Harris Rebar and Nucor Grating, and leveraged as Nucor’s BIM solution to deliver projects that are cost efficient, accurate and constructible.
Both the companies will work together to educate AEC stakeholders on effective workflows from design through fabrication and construction, as well as prepare students with the requisite skills to contribute to a more than ever BIM-centric construction industry. They companies will conduct joint training for the industry and students with an aim to support suitable curricula at educational and training institutions located near Nucor's multiple fabrication facilities.
Nucor is witnessing strength across end markets such as automotive, energy and general manufacturing as demand across these end markets remain healthy. The acquisition of Gallatin Steel Company has further fortified Nucor’s foothold in the key Midwest market, the biggest flat-rolled consuming region in the U.S.
However, the steel industry is still going through a difficult phase and market fundamentals continue to be challenging in the U.S. Nucor, like other steel makers, remains plagued by surging domestic steel imports.
Nucor currently carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the basic materials space are ThyssenKrupp AG TYEKF and Pretium Resources Inc. PVG, both carrying a Zacks Rank #2 (Buy).
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