HOUSTON--(BUSINESS WIRE)--Kinder Morgan, Inc. (NYSE: KMI) today announced it has entered into a
new, 10-year agreement with Nucor Corporation to provide in-plant
services for five of Nucor’s facilities at Decatur, Alabama; Hertford,
North Carolina; Berkeley, South Carolina; and two facilities at
Blytheville, Arkansas. The five facilities produce approximately 13.4
million tons of steel products annually. KMI will be handling
approximately 14.8 million tons annually of scrap steel, direct-reduced
iron, pig iron and other feedstocks, as well as providing other
ancillary services. The value of the agreement is approximately $900
million.
“Nucor is one of our largest customers in our Terminals division. This
new agreement ensures that KMI will continue to provide handling,
processing, warehousing and marine services to Nucor, the largest
recycler and steel producer in North America,” said KMI Terminals
President John Schlosser. “These facilities provide Nucor and other
customers access to our growing national network of marine and rail
terminals. This agreement also reconfirms KMI’s commitment to growing
our terminals business.”
Kinder Morgan, Inc. (NYSE: KMI) is the largest energy infrastructure
company in North America. It owns an interest in or operates
approximately 84,000 miles of pipelines and approximately 180 terminals.
The company’s pipelines transport natural gas, gasoline, crude oil, CO2
and other products, and its terminals store petroleum products and
chemicals, and handle bulk materials like coal and petroleum coke. For
more information please visit www.kindermorgan.com.
Important Information Relating to
Forward-Looking Statements
This news release includes forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995 and
Section 21E of the Securities and Exchange Act of 1934. Generally
the words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,”
“estimates,” and similar expressions identify forward-looking
statements, which are generally not historical in nature. Forward-looking
statements are subject to risks and uncertainties and are based on the
beliefs and assumptions of management, based on information currently
available to them. Although Kinder Morgan believes that these
forward-looking statements are based on reasonable assumptions, it can
give no assurance that any such forward-looking statements will
materialize. Important factors that could cause actual results to
differ materially from those expressed in or implied from these
forward-looking statements include the risks and uncertainties described
in Kinder Morgan’s reports filed with the Securities and Exchange
Commission, including its Annual Report on Form 10-K for the year-ended
December 31, 2015 (under the headings “Risk Factors” and “Information
Regarding Forward-Looking Statements” and elsewhere) and its subsequent
reports, which are available through the SEC’s EDGAR system at
www.sec.gov
and on our website at ir.kindermorgan.com. Forward-looking statements
speak only as of the date they were made, and except to the extent
required by law, Kinder Morgan undertakes no obligation to update any
forward-looking statement because of new information, future events or
other factors. Because of these risks and uncertainties, readers should
not place undue reliance on these forward-looking statements.
