Nucor

Top producer of steel.

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Headquarters: 2100 Rexford Road
Charlotte, NC 28211
Employees: 10,600
CEO: Daniel DiMicco
Stock Symbol: NUE

Website: http://www.nucor.com

Nucor is one of the top steel producers in the nation.

The company has operating facilities in 14 states.  Products produced are:  carbon and alloy steel in bars, beams, sheet, and plate; steel joists and joist girders; steel deck; cold finished steel; steel fasteners; metal building systems; and light gauge steel framing.

In 2004, Nucor recycled approximately 17 million tons of scrap steel, with 5 million of those tons being automobiles.

Nucor reported revenues of $11.37 billion in 2004 and net income of $1.1 billion.

History

Nucor's origins are with auto manufacturer 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 instrument and electronics business in the 1950's and early 1960's.

The company moved its headquarters from Phoenix, AZ to Charlotte, NC in 1966, and expanded the joist business with new operations in Texas and Alabama. Management then decided to integrate backwards into steel making by building its first steel bar mill in Darlington, SC in 1968. In 1972 the company adopted the name Nucor Corporation. Since that time, Nucor has built three more Vulcraft facilities, eight steel mills, and expanded into other steel products.

In 2002, Nucor completed the purchase of substantially all of the assets of Birmingham Steel Corporation, which includes four operating mills in Alabama, Illinois, Washington, and Mississippi.

Benefits

Nucor takes an egalitarian approach to providing benefits to its employees. That is, the upper levels of management do not enjoy better insurance programs, vacation schedules, or holidays. In fact, certain benefits such as Nucor's Profit Sharing, Scholarship Program, Employee Stock Purchase Plan, Extraordinary Bonus, and Service Awards Program are not available to Nucor's officers. Senior executives do not enjoy traditional perquisites such as company cars, corporate jets, executive dining rooms, or executive parking places.

The company offers incentive bonuses and annual bonuses based on company performance.

Updated August 23, 2005

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