The evolution of america’s leading
In 1905, Ransom E. Olds, creator of the Oldsmobile, had a dispute with stockholders and left his own company — Olds Motor Works. He soon formed REO Motor Company, which evolved into the Nuclear Corporation of America and ultimately, Nucor.
While successful at first, REO ultimately relied on defense contracts to stay in business. And when the Korean War ended in 1955, so too did REO. Its assets were merged with Nuclear Consultants, Inc. to form Nuclear Corporation of America.
This was the year that Nuclear Corporation made two moves that would soon change the company and ultimately the American steel industry. First, they acquired a company called Vulcraft, an unassuming producer of steel joists and girders. Second, to run Vulcraft, they hired a man named Ken Iverson who would soon emerge as one of the great visionaries and mavericks in American industry.
Barely staving off bankruptcy, Nuclear appointed Ken Iverson as its new president. He acted quickly to put the company on a course toward profitability including selling off inefficient divisions.
Back on its feet, the company moves corporate headquarters from Phoenix, Arizona to Charlotte, North Carolina. Iverson proposes entering the steelmaking business.
Our first mini mill, located in Darlington, South Carolina, goes into production. At first it was simply a way to provide our construction joist division — Vulcraft — with an economical and reliable supply of steel. But we quickly learned that other companies had the same need, and we expanded our production to accommodate outside customers. We’ve been expanding ever since.
Not long after we shed our conglomerate business model to become a highly focused steel producer, The board of directors elected to change the name of the company from Nuclear Corporation of America to simply Nucor.
Nucor is listed on the New York Stock Exchange for the first time as Nucor’s first steel joist plant goes into operation in St. Joe, Indiana. We’re listed under the ticker symbol NUE.
Nucor Foundation is established for teammates’ children.
Since 1974, Nucor has contributed over
70 million dollars to Scholarships and Educational
Disbursements. It is a source for millions of dollars
for educational funding. To this day, every child of
every Nucor teammate is entitled to educational
funds from the company.
Nucor enters the cold-finish market with a new mill in Norfolk, Nebraska.
We finally break into the Fortune 500 and have been climbing ever since.
Nucor enters the steel fastener market with a new production facility in St. Joe, Indiana.
Through a joint venture with Japanese company Yamato Kogyo, the Nucor-Yamato plant in Blytheville, Arkansas, becomes the first mini mill in the U.S. to manufacture wide-flange beams with a depth of 40 inches. Also in 1988, the Building Systems Division begins operation with a new plant in Waterloo, Indiana.
Nucor ushers in a new era of steelmaking as thin-slab technology goes on-line at the new mini mill in Crawfordsville, Indiana. It is the first mini mill in the world to make quality flat rolled steel using the technology.
Ken Iverson steps down from day-to-day operations, and focuses on his role as chairman of the board of directors.
Nucor announces plans to construct a state-of-the-art plate mill facility in Hertford County, North Carolina. The facility, which opened in 2000 with a capacity of 1.6 million tons and nearly 400 employees, kicked off a decade of strong growth for Nucor. The announcement of major expansions and construction of new facilities would follow in 1999.
Takes The Helm
Dan DiMicco is named the new president and CEO of Nucor. DiMicco has led the company through an unparalleled period of growth and championed our ongoing fight for fair trade practices to save American jobs and our U.S. manufacturing industry.
Another world first: Our Castrip® micro
mill goes on-line in Crawfordsville, Indiana.
Producing Ultra-Thin Cast Steel (UCS), the process
instantly transforms molten steel directly into steel
sheets in just one remarkable step. Compared to an
integrated steelmaking facility, the Castrip® process consumes
about 95% less energy and emits less than one-tenth the greenhouse gases.
Nucor stages its first Town Hall Meeting, an educational and inspirational community rally designed to ensure that free trade equals fair trade for the American worker. The event proved to be so popular that we have since staged several more, each one attracting thousands of attendees.
Utilizing the Castrip® Process, the Crawfordsville, Indiana steel plant
sets a new record for casting duration. The plant cast 7 complete
ladles of steel over a 10-hour period in mid-August.
Total throughput for the record was 832 tons. The new
record eclipses the previous best of 4 consecutive ladles.
This represented a huge step towards the successful
commercialization of the Castrip®
technology, and a major leap forward
in reducing the environmental
impact of steelmaking -- with
significant reductions in energy
consumption and greenhouse
Nucor’s $1.07 billion acquisition of Harris Steel Group provides entry into the rebar fabrication market, and significantly advances Nucor’s downstream growth initiatives.
On A Roll
Nucor announces before tax earnings of $2.3 billion
on production of 22.1 million tons of steel. We also announced
our 139th consecutive quarterly cash dividend.
It’s All About
Nucor acquires The David J. Joseph Company, one of the nation’s largest scrap processors and brokers. The acquisition gives Nucor further control of its primary feedstock - scrap steel - which makes up 75 to 90 percent of the materials used to recycle steel.
A Decade Of
From 2001 to 2010, Nucor grew at an unprecedented rate, taking its place as the nation's leading producer of steel. During that time, Nucor made over 15 acquisitions, entered into multiple partnerships, and developed a number of new facilities and businesses. The company more than doubled in size to over 20,000 teammates at 212 facilities in 22 states and numerous international locations.
Nucor begins development on its $750 million direct reduced iron (DRI) facility, located in St. James Parish, Louisiana. The innovative direct reduction technology converts natural gas and iron ore pellets into direct reduced iron used to produce all kinds of high quality steel products.
Major expansion of
$290 million for projects at Nucor Steel Memphis Inc., Nucor Steel Nebraska and Nucor Steel South Carolina that will expand Special Bar Quality (SBQ) and wire rod capacities by a combined one million tons.
Fueling Our Growth
Nucor enters into a long-term agreement with Encana Oil & Gas (USA) Inc. that will ensure a reliable, low cost supply of natural gas for Nucor's existing and expected future needs for more than 20 years.
John J. Ferriola
Named New CEO
John J. Ferriola assumes the role of Chief Executive Officer and President of Nucor Corporation, succeeding Dan DiMicco, who would serve another year as Executive Chairman. The next year, Ferriola would also take on the responsibilities of Executive Chairman, as DiMicco was bestowed the honorary title of Chairman Emeritus. This succession reflects the thoughtful, planned transition of leadership at Nucor. Ferriola will lead the company to seize the opportunities created by Nucor’s recent investments.
Louisiana DRI Plant
Nucor’s $750 million direct reduced iron (DRI) plant in St. James Parish, Louisiana becomes fully operational. Plant operations began on December 24, 2013. Nucor Steel Louisiana is the largest DRI plant in the world with a production capacity of 2.5 million tons annually, and is also the first DRI plant to operate in the U.S. since 2009. Production of DRI gives Nucor greater flexibility to respond to increases and volatility in raw material prices.
Auburn Steel (Nucor Steel Auburn, Inc.)
First acquisition in 36-year history.
Castrip, LLC in Crawfordsbille, Indiana begins operation.
Trico Steel (Nucor Steel Decatur, LLC)
Birmingham Steel (Nucor Steel Kankakee, Inc.; Nucor Steel Jackson, Inc.; Nucor Steel Seattle, Inc.; Nucor Steel Birmingham, Inc.; Nucor Steel Memphis, Inc.)
Corus Tuscaloosa (Nucor Steel Tuscaloosa, Inc.)
Fort Howard Steel (Nucor Cold Finish Wisconsin, Inc.)
Marion Steel (Nucor Steel Marion, Inc.)
Connecticut Steel (Nucor Steel Connecticut, Inc.)
Verco Decking, Inc. added to Vulcraft group.
Harris Steel Group (Harris Steel, Inc.)
$1.07 billion acquisition provides entry into rebar fabrication market in the U.S. and Canada.
Restarts former American Iron Reduction DRI facility as Nu-Iron Unlimited.
Creates “Nucor Buildings Group” for pre-engineered building products.
LMP Steel & Wire (Nucor LMP Steel, Inc.)
Nelson Steel (Nucor Wire Products Pennsylvania Inc.)
Harris Steel, Inc. joint venture with Barker Steel Company.
David J. Joseph Company
Provides Nucor direct ownership in steel scrap supply chain.
Joint Venture with Duferco S.A. (Duferdofin Nucor S.r.l.)
Provides access to growing European markets.
Harris Steel, Inc. acquires Ambassador Steel.
Rebar fabrication business now more than double since Nucor’s acquisition of Harris Steel.
Restarts previously idled Nucor Steel Memphis, Inc. acquired from Birmingham Steel in 2002
Nucor Castrip Arkansas, LLC begins operation
Nucor Trading SA launched.
Formerly Novosteel, acquired with Harris Group in 2006.
Nucor Steel Kingman, Inc. recommissioned.
The Kingman rolling mill was acquired from North Star Steel in 2003.
In the two years since joining the Nucor family, David J. Joseph Company adds 27 locations through five acquisitions and two Greenfield.
Joint Venture with Mitsui & Co. Inc. (USA) to form NuMit, LLC
Establishes a presence in down stream processing for sheet steel. Includes 23 Steel Technologies, LLC sheet processing facilities throughout North America.
Skyline Steel LLC
Expands Nucor's piling distribution and production capabilities.