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Olds, who founded Olds Motor Vehicle Company in 1897 (later, as Oldsmobile, to become a part of General Motors). Having left his company years before it was acquired by GM, in 1905 Olds established a new company, REO Motor Car Company, the predecessor to Nucor, in Lansing, Michigan. Though Olds' cars, including the luxurious REO Flying Cloud, were popular, they were not profitable, and the company's more successful truck business (featuring the famous REO Speed Wagon) was still not sufficiently profitable to avoid a bankruptcy filing in 1938.
As part of the bankruptcy reorganization, REO exited the car business to concentrate on trucks, and after World War II, attempted to diversify into lawn mowers. The reorganized company continued to underperform, and finally in December 1954, REO sold off its entire manufacturing operations to Bohn Aluminum and Brass Company (suffering a $3 million loss on the sale).
[edit]The Nuclear Corporation …show more content…
Under his leadership, Nucor has acquired compatible existing steel manufacturing facilities with similar operating philosophies.
Since 2007, Nucor has made the two biggest acquisitions in its history, one to help control its raw material supply and the other to expand its product line.
In January 2007, Nucor agreed to pay $1.07 billion dollars for Canada’s Harris Steel Co. The deal allowed Nucor to expand its presence in the type of steel used to build bridges, highways and other infrastructure projects.[5]
Prior to 2007, Nucor had a single brand, Nucor Building Systems which consists of four facilities in Indiana, South Carolina, Texas, and Utah.[6] In August 2007, Nucor acquired the four brands of Magnatrax (American Buildings Company, Gulf States Manufacturers, Kirby Building Systems and CBC Steel Buildings) for $280 million to bolster its share in the pre-engineered metal building systems market. As a result Nucor Buildings Group was created.[7]
In February 2008, Nucor agreed to pay $1.4 billion for DJJ, one of the largest scrap brokerages. Analysts said the deal would help Nucor pocket more of its sales. In May 2008, Nucor also announced two joint ventures overseas to capitalize on thriving construction markets outside the
As part of the bankruptcy reorganization, REO exited the car business to concentrate on trucks, and after World War II, attempted to diversify into lawn mowers. The reorganized company continued to underperform, and finally in December 1954, REO sold off its entire manufacturing operations to Bohn Aluminum and Brass Company (suffering a $3 million loss on the sale).
[edit]The Nuclear Corporation …show more content…
Under his leadership, Nucor has acquired compatible existing steel manufacturing facilities with similar operating philosophies.
Since 2007, Nucor has made the two biggest acquisitions in its history, one to help control its raw material supply and the other to expand its product line.
In January 2007, Nucor agreed to pay $1.07 billion dollars for Canada’s Harris Steel Co. The deal allowed Nucor to expand its presence in the type of steel used to build bridges, highways and other infrastructure projects.[5]
Prior to 2007, Nucor had a single brand, Nucor Building Systems which consists of four facilities in Indiana, South Carolina, Texas, and Utah.[6] In August 2007, Nucor acquired the four brands of Magnatrax (American Buildings Company, Gulf States Manufacturers, Kirby Building Systems and CBC Steel Buildings) for $280 million to bolster its share in the pre-engineered metal building systems market. As a result Nucor Buildings Group was created.[7]
In February 2008, Nucor agreed to pay $1.4 billion for DJJ, one of the largest scrap brokerages. Analysts said the deal would help Nucor pocket more of its sales. In May 2008, Nucor also announced two joint ventures overseas to capitalize on thriving construction markets outside the