Nucor traces its origins to auto manufacturer Ransom E. Olds, who founded Oldsmobile and then, in 1905, REO Motor Car Company. The new company was an innovator, producing the first commercial cars with electric lights, an electric starter, and pneumatic tires.
Through a series of transactions, the company Olds founded eventually became, in 1955, Nuclear Corporation of America. By that time, the company was involved in the nuclear instrument and electronics business. Nuclear bought several companies over the next few years, including a South Carolina maker of steel joists and joist girders called Vulcraft Corp. that would soon provide the spark for the company's remarkable evolution.
The Bar mill opened in Darlington, South Carolina, in 1969. The first of several regional bar mills, it became the prototype for today's vast minimill industry and launched Nuclear Corp. into a wide range of steel businesses. In 1972, the company officially adopted the Nucor Corporation name, which was proposed by Sam Siegel.
Nucor takes an egalitarian approach in providing benefits to its employees. Senior executives do not enjoy traditional perquisites such as company cars, executive dining rooms, or executive parking places. In fact, certain benefits such as Nucor's Profit Sharing, Scholarship Program, Employee Stock Investment Plan, Extraordinary Bonus and Service Awards Program are not available to Nucor's officers. All employees have the same holidays, vacation schedules, and insurance programs. This equality in benefits is a key ingredient toward fostering the teamwork approach that is an essential part of Nucor's business.
Nucor Corporation is made up of approximately 20,000 teammates whose goal is to "Take Care of Our Customers." We are accomplishing this by being the safest, highest quality, lowest cost, most productive and most profitable steel and steel products company in the world. We are committed to doing this while being cultural and environmental stewards in our communities where we live and work. We are succeeding by working together.
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