Nucor Corporation in 2001History of NucorNucor Corporation is the second largest steel producer in the United States and had net sales of $4.6 billion in 2000. Nucor recycles approximately 10 million tons of steel scrap. It operates in 9 states and produces carbon and alloy steel in bars, beams, sheets and plates; steel joists and joists; steel bridge; cold finished steel; steel fasteners; metal building systems; and light gauge steel construction. The company emerged from bankruptcy in 1966 to become one of the fastest growing steel companies. Despite the 1991 recession, Nucor grew to become one of the world's largest and best-known steel producers. Nucor's origins date back to the automaker Ransom E. Olds, who founded Oldsmobile and then Reo Motor Cars. Through a series of transactions, the company Olds founded eventually became the Nuclear Corporation of America. Nuclear Corporation was involved in the nuclear instruments and electronics industry in the 1950s and early 1960s. The company suffered several years of losing money, and when it faced bankruptcy in 1964, it named F. Kenneth Iverson as president and Samuel Siegel as vice president of finance. . This change in management led to a restructuring and the decision to rebuild the company around core profitable operations; steel joist operations in Florence, South Carolina and Norfolk, Nebraska called Vulcraft. The company moved its headquarters from Phoenix, Arizona to Charlotte, North Carolina in 1966, and expanded its joist business with new operations in Texas and Alabama. Management then decided to integrate backwards into steel production by building its first steel bar mill in Darlington, South Carolina, in 1968. In 1972 the company adopted the name Nucor Corporation. Since that time, Nucor has built three more Vulcraft plants, eight steel mills and expanded into other steel products. Current Strategy and Future Expectations Nucor is pursuing long-term growth and wants to improve its position as the second largest US steel producer overtaking the United States. steel, which is an industry leader. Its current strategy is to be the lowest-cost steel supplier, finding opportunities to reduce costs. Emphasizes technological leadership through the aggressive pursuit of innovation and technical excellence. It places a strong emphasis on employee relations and provides fair compensation and… middle of paper… It would reduce costs by removing redundant and duplicative efforts by divisions. Furthermore, it would get senior executives on the same page and controlling the company would be much easier for them. Nucor should continue to be a quality, low-cost supplier using all of its strengths. It should continue to be the technology leader by quickly identifying and adopting new technologies. With competition getting tougher, Nucor should partner with companies developing the latest technology, instead of trying to do it alone. This would reduce research and development efforts and costs and help Nucor catch up to the technology more quickly. Nucor should grow by acquiring other companies, but you need to pay attention to see if they fit strategically. It should also look for consolidation opportunities outside the United States. By exiting the United States it may be able to reduce energy, raw material and labor costs, which will give it an edge over its domestic competitors. Finally, he should use all his influence to increase the growing pressure on the Bush administration..