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Nucor Named One of BusinessWeek’s 50 Top Performing Companies
04/03/2008 - Nucor is again named to the BusinessWeek 50, the annual list that ranks top-performing companies based on the rate of return on investment and sales growth over a three-year period.
For the third time in four years, Nucor Corp. has been named to the BusinessWeek 50. Published annually since 1997, the list ranks top-performing companies based on the rate of return on investment and sales growth over a three-year period.
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Nucor was ranked as number 25 on the BusinessWeek 50 list, despite a 16% drop in earnings last year—the result of sagging demand from the housing and automotive markets—following its record performance in 2006.
"Because we compete in a global market and our business is heavily influenced by events that we cannot control, Nucor is committed to teamwork and focusing each day to be the safest and best steel and steel products company in the world,” said Daniel R. DiMicco, Nucor President and CEO.
“Even with the challenges of a slowing economy, scrap price increases and global overcapacity fed by record imports of government-subsidized products from China, Nucor still had its second-best earnings year in its history in 2007."
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"Nucor is made up of a team of 20,000 dedicated men and women whose goal is to take care of our customers,” said Daniel R. DiMicco, Nucor President and CEO. “We achieve this by working to be the safest, highest quality, lowest cost, most productive and most profitable steel company in the world.”
Nucor was ranked as number 25 on the BusinessWeek 50 list, despite a 16% drop in earnings last year following its record performance in 2006. The drop—the result of sagging demand from the housing and automotive markets—did not prevent the company from recording nearly $1.5 billion in profits.
"Because we compete in a global market and our business is heavily influenced by events that we cannot control, Nucor is committed to teamwork and focusing each day to be the safest and best steel and steel products company in the world,” said DiMicco. “Even with the challenges of a slowing economy, scrap price increases and global overcapacity fed by record imports of government-subsidized products from China, Nucor still had its second-best earnings year in its history in 2007."
The BusinessWeek 50 recognizes the magazine's top performers in each of the sectors that make up the S&P 500. Two other materials-sector companies—Allegheny Technologies and Titanium Metals—were also named to this year’s BusinessWeek 50.
Nucor was ranked as number 1 on the BusinessWeek 50 in 2005, and as number 4 in 2007. Repeated rankings on the list are all the more meaningful—and difficult to achieve—because of the way the list ranks companies based on growth factors. "Being ranked regularly on the BusinessWeek 50 is quite an honor because it takes into account performance over multiple years and measures consistent, sustained growth," said DiMicco.
Nucor and affiliates manufacture steel products, including carbon and alloy steel bars, beams, sheet and plate; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; light gauge steel framing; steel grating and expanded metal; and wire and wire mesh. Nucor, through its wholly owned subsidiary the David J. Joseph Co., also brokers ferrous and nonferrous metals, pig iron and HRI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.
