Nucor3 - Chair man/ Vice Chair man/President Vice...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Chair man/ Vice Chair man/President Vice President/Plant General Manager Depar tment Manager Super visor 1 Case Analysis: Nucor in 2009 Case Analysis: Nucor in 2009 Wisanu Buakaew University of Nebraska at Kearney 2 Case Analysis: Nucor in 2009 NUCOR IN 2009 NUCOR HISTORY It began in 1897 when Ransom E. Olds founded the Olds Motor Vehicle Company which was later sold to General Motors. In 1905 Olds formed the Reo Motor Car Company in which evolved into the Nuclear Corporation of America and finally, Nucor. In 1955 Reo Motor Car Company was merged with Nuclear Consultants, Inc. to launch Nuclear Corporation of America. In 1962 Nuclear Corporation acquire a company called Vulcraft, a producer of steel joists and girders. Then, they hire Ken Iverson who would emerge as one of visionaries in American industry. In 1965 Nucor began with the promotion of Ken Iverson to president and Sam Siegel to chief financial officer. Iverson and Siegel started selling off inefficient divisions except Vulcraft. 3 Case Analysis: Nucor in 2009 In 1966 Nucor moved corporate head quarters from Phoenix, Arizona to Charlotte, North Carolina. At first, Vulcraft bought steel bars and angles from United States Steel Corporation and a number of foreign suppliers. However, when the price of raw material for steel joist went up to 75% of the selling price of the joists, Iverson decided to start producing its own raw material. In 1969 they finally opened its first mini-mill in Darlington, South Carolina to supply its steel to its own construction joist division. The mini-mill concept helped them to significantly save in capital investment $200 - $300 per annual ton of capacity. The saving in operating costs is also substantial because far less energy and labor are required for each ton of steel produced. They, further, learned that other companies had the same needs. Therefore, they increased their production to accommodate outside customers and this is the start point of expansion. In 1971the board of directors changed the name of the company from nuclear Corporation of America to Nucor. Over the next two decades, Nucor opened additional joist plants in Indiana and Utah. It also built new min-mills in Texas, Nebraska and Utah. Nebraska and Utah....
View Full Document

Page1 / 10

Nucor3 - Chair man/ Vice Chair man/President Vice...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online