Nucor

Nucor Corporation is the largest steel producer in the United States and the largest recycler of scrap in North America, ranking as the 16th-largest steel producer globally. Based in Charlotte, North Carolina, Nucor has revolutionized the American steel industry through its innovative use of electric arc furnace (EAF) technology and continuous casting to melt scrap steel, achieving a greenhouse gas intensity approximately one-third lower than the global average for traditional blast furnace steelmakers. Founded in 1940 as Nuclear Corporation of America by Sam Siegel in New York, the company initially focused on nuclear instrumentation and electronics before undergoing a dramatic transformation that would reshape American manufacturing. The pivotal moment came in March 1965 when the company filed for bankruptcy, and Ken Iverson, head of the only profitable division (Vulcraft, a steel joists and girders producer), took over as CEO. Under Iverson's visionary leadership, Nuclear Corporation made the bold decision to vertically integrate into steelmaking by building its first steel bar mill in Darlington, South Carolina in 1968, using a $6 million loan secured by all company assets to purchase an electric arc furnace. This strategic pivot proved transformative, and in 1972, the company adopted its current name, Nucor Corporation, reflecting its new identity as a steel powerhouse. Nucor operates on a decentralized management model where each of its plants operates semi-autonomously, empowering plant managers to address issues and capitalize on opportunities swiftly, fostering a sense of ownership among employees and encouraging innovation. Today, Nucor operates 25 steel mills and over 100 steel product fabrication centers strategically located across the United States, Canada, and Mexico, with a total workforce of approximately 26,000 teammates. In 2024, the company produced and sold approximately 18.5 million tons of steel and recycled 18 million tons of scrap, demonstrating its commitment to sustainable steel production. The company's product range includes bars, beams, sheet, plate, hollow structural section tubing, steel joists, rebar, wire, wire mesh, and light-gauge steel framing systems, serving diverse industries primarily in construction, automotive, and energy sectors. Nucor has maintained the strongest credit ratings in the North American steel sector (A-/A-/A3) with stable outlooks, and remarkably, has increased its regular base dividend for 52 consecutive years – every year since it first began paying dividends in 1973. With consolidated net sales of $30.73 billion in 2024 and consistent capital investments exceeding $3 billion annually in growth projects, Nucor continues to lead the industry in innovation, sustainability, and operational excellence.