W&F Issue 7 2018

www.wealthandfinance-news.com 24 Wealth & Finance International - Issue 7 2018 Nucor Corporation announced on the 27th July 2018 that it has purchased a minority equity position in the parent of Trion Coatings, LLC (Trion Coatings), which is developing an environmentally friendly chrome plating technology. As part of its investment, Nucor is working with Trion Coatings to commercialize the technology and will be constructing a pilot facility at Nucor Fastener in St. Joe, Indiana. In addition to this, Nucor also holds an exclusive worldwide license agreement for the technology as applied to long steel products. “We are very excited to invest in this cutting-edge technology, working together with Trion Coatings and the University of Notre Dame to create a much safer work environment, and advancing this technology to the commercial level,” said John Ferriola, Chairman, CEO & President of Nucor Corporation. “As the nation’s largest recycler, we are constantly looking for ways to increase the sustainability of our business and reduce the impact on our environment.” Trion Coatings, which incubated at Notre Dame’s IDEA Center, was formed for the purpose of developing an environmentally friendly alternative to the traditional chrome plating process. Developing a safer alternative to Cr(VI) presents advantages in the market as the global regulatory environment becomes more stringent. Trion Coatings utilises a patent pending process using Cr(III) salts and a proprietary ionic liquid solution. The process allows for greater electroplating speeds, improved wear resistance and overall higher performance than the traditional Nucor Invests in Environmentally Friendly Chrome Plating Technology Nucor Corporation announced that it has purchased a minority equity position in the parent of Trion Coatings, LLC (Trion Coatings), which is developing an environmentally friendly chrome plating technology. chrome plating process, while offering an excellent health and safety profile. Middleburg Capital Development is the majority equity holder of Trion Coatings, with another minority equity stake held by the University of Notre Dame. Middleburg Capital Development is a family office that manages the Sutherland family trusts and has been an early advocate of Notre Dame’s IDEA Center. Tim Sutherland, Chairman of Middleburg Capital Development stated, “Trion is a prime example of how research at the University of Notre Dame and the IDEA Center’s commercialising process work in harmony to foster new frontier research and commercialise it to do bold things for the human community. Our success is a credit to the Trion Coatings founders and scientists who worked diligently and with unwavering commitment to create a chrome coating that will change steel finishing forever, while benefiting human health and safety in immeasurable ways.” Nucor and its 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; hollow structural section tubing; electrical conduit; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; steel grating; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America’s largest recycler.