About the Company
America’s largest producer of steel and recycling of scrap has its origins in 1905. Ransom E. Olds, the creator of Oldsmobile, formed the REO Motor Company which later evolved into the Nuclear Corporation of America. This parent company diversified into Nucor. In 1962, the company acquired Vulcraft which was a producer of steel joists. In 1962, the company opened a second Vulcraft factory in Nebraska. Vulcraft purchased M&S Steel Company of Fort Payne Alabama and built a fourth plant in Grapeland Texas. The company name was changed to Nucor in 1971. Nucor moved its corporate headquarters from Phoenix, Arizona to Charlotte, North Carolina. It was during this time that the chief, Iverson, suggested entering the steel production business.
Nucor operates many independent subsidiaries. These subsidiaries are Nucor Steel located in Alabama, Florida, and Kentucky, among others, Duferdofin based in Italy, Nucor Cold Finish located in Canada, Georgia, and Missouri. Nucor owns many steel joist divisions such as Vulcraft, and building divisions such as Nucor Building Systems, American Buildings Company, CBC Steel Buildings, and Kirby Building Systems. Apart from these, Nucor owns Nucor Fastener, Harris Rebar, Nucor Skyline (steel foundation supplier), and Nucor Grating. Also, there is a sales division in the United States, Columbia, Mexico, UAE and Switzerland.
In 1972, Nucor was listed on the New York Stock Exchange for the first time under the ticker symbol of NUE. The company is reputed for valuing its workers and has a policy of paying good compensation to them. Nucor, since 1974, has also donated over $97 million to scholarships and educational institutes. 1980 saw the company enter the Fortune 500 list. Nucor has been at the helm of many developments in steel, including rolling steel into sheets directly. This Caststrip process takes up much less energy and emits less than one-tenth of the greenhouse gases. It acquired Trico Steel and Birmingham Steel in 2002, creating plenty of new Nucor steel mills. In 2005, Nucor acquired Fort Howard Steel and Connecticut Steel. In 2008, Nucor entered the scrap market by purchasing the David J. Joseph company.;