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Last time our consulting firm found several major points of question and recommended solutions Some of these recommendations were implemented with excellent success The first and most arduous problem we examined was of expansion Our recommendations for expansion were put into effect with several projects in various stages In the past several months the company has announced plans to build a structural mill next to its flat-rolled plant in Berkeley County South Carolina a mill for pickling and oiling cold rolling and galvanizing hot-rolled coils in Hickman Arkansas and plate mill in Hertford County North Carolina The second task we dealt with was whether or not Nucor should add another layer of management Our second recommendation toward adding another layer of management was also implemented Nucor Corp promoted two plant managers to newly created position of executive vice president The addition of a layer of management is a response to the Nucors significant growth over the past several years and signals that it might be interested in acquiring other businesses According to October issue of Wall Street Journal the steel-makers have the capacity to produce 869 million metric tons or 956 million short tons of steel annually - 15 more than can be consumed Even though the consumption of steel is below average Overall companies continue to expand production about 2 year in a losing attempt to gain profit Nucor Corporation is still the king of mini-mills and is currently the second largest steel-maker in America which produces 97 million tons of steel in 1999 up 15 from the year before Nucor has accounted for 83 of the US steel industrys growth in shipments during last decade This is because of Nucor s diverse product mix and low cost structure scrap-based non-union mini-mill were clear factors in Nucors earnings out-performance this year and should further differentiate Nucor over the next year if the steel market remains weakDespite Nucors superior attributes and ability to generate strong
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