Nuclear Corporation of America was involved in the nuclear instrument and electronics business. In 1964, the company’s board of directors opted for new leadership due to suffering several money-losing years and facing bankruptcy. F. Kenneth Iverson was the new leader, president, and CEO of Nuclear Corporation. F. Kenneth decided that the best way to rebuild the company was to expand around its profitable South Carolina. Iverson was already the head of Vulcraft before adopting Nuclear Corporation. He had a vision that by joining Vulcraft and Nuclear together it would be great opportunities. Iverson concluded that the best way was for Nucor to make a different path altogether with their successful Vulcraft subsidiary in the steel business.
In 1972, Nucor Corporation was adopted as a steel import company. Nucor is a steel company based in North Carolina (headquarters). This company had become the seventh largest steel company in America. This company was very profitable and its revenue was out the roof. Nuclear became the leading steel manufacturer that offers steel bars, steel joints and girders, reinforcing bars, and steel decks that are made of scrap. Within several years Nucor had became the largest steelmaker in North America. Nucor has been the most successful American steel maker for more than 35 years. It has a unique company culture and is recognized as the technology leader in its field. In an industry that is heavily unionized, Nucor’s work force is non-union. By the end of 2007 the company had 20 plants in its steel mill segment, 32 in the steel products segment, and one reduced iron ore plant in Trinidad. The organizational structure is flat and decentralized with only four levels of management. Despite its long track record of growth and financial success, Nucor’s business sank like a stone in the fourth quarter of 2008. Context
The steel industry is often considered an indicator of economic process, because of the critical role played by steel. The U.S. steel industry is a $60 billion enterprise, with more than about 800 firms operation in a few states. The industry employs over 189,000 people nationwide. The industry of steel has invested more than $8 billion in the environmental controls as being the largest energy consumers in the manufacturing sector. Steel is an alloy of iron and other elements that involves mainly carbon. Carbon and other elements act as a hardening that prevents dislocations in the iron from sliding past one another. Other elements that add to modify the steel and its characteristics are nickel, titanium, and manganese. Steel uses both energy to supply heath and power for its operation. Iron and steel are used in the construction of roads, railways, and other appliances and buildings. Variety of large structures as bridges airports and skyscrapers are supported by steel skeleton. Steel skeleton is a steel frame with a variety of of vertical steel columns and horizontal I-beams, constructed in a rectangular grid to support the floors, roof and walls of a building which are all attached to the frame. The development of this technique made the construction of the skyscraper possible. But all these things and developments started from steel. Steel is a major component in the world. Today, the steel industry is vital to both economic competitiveness and national security. Steel is the backbone to most operations and items that we view and see on a daily. The steel that is used today is high-strength steel that is lighter and more versatile to the world. Steel is one of the most common materials that have more than about 1.3 billion tons produced annually. However, modern steel is generally identified by assorted organizations. External Analysis
In the 1960 steel was produced in huge plants using capital-intensive basic oxygen blast furnace technology and open hearth furnace technology where steel was made from scratch. The advent of electric arc furnace technology spurred...