Shares of Nucor, a North Carolina steel maker, are up 12 percent Wednesday, hours after Donald Trump won the U.S. presidential election.

Former Chief Executive Officer Dan DiMicco is a Trump trade advisor. Investors believe Nucor will benefit from Trump’s plan to rebuild infrastructure in the country.

Nucor trades on the New York Stock Exchange under the ticker NUE. Nucor shares closed yesterday at $51.37. Shares are now trading at $57.75 per share.

DiMicco said Trump’s campaign named him as a trade advisor last spring, the Charlotte Observer reported on June 27, 2016.

The Waxhaw, N.C.-native said he knew Trump through about six phone conversations over the past 10 years.

DiMicco argues free-trade policies have cost Americans millions of manufacturing jobs

Nucor announced on Nov. 1 that it closed on its acquisition of Independence Tube Corp. for approximately $435 million.

“We are pleased to welcome the 335 teammates at Independence Tube to the Nucor family,” said John Ferriola, chairman, chief executive officer and president of Nucor. “This is a great acquisition, giving us another growth platform and enhancing our position as the most comprehensive provider of steel solutions to the construction and infrastructure markets,” Ferriola said.

Last quarter, Nucor generated nearly $4.29 billion in sales and net income of 88 cents per share, compared to a mean forecast of $4.51 billion and 90 cents per share. For the prior quarter, revenue was $4.25 billion, with earnings per share of 73 cents.