As one of the nations largest steel producers with more than $3.5 billion in sales, Nucor can trace its origins to auto manufacturer Ransom E. Olds, who founded Oldsmobile and then Reo Motor Cars. Through a series......As one of the nations largest steel producers with more than $3.5 billion in sales, Nucor can trace its origins to auto manufacturer Ransom E. Olds, who founded Oldsmobile and then Reo Motor Cars. Through a series of transactions, the company Olds founded eventually became the Nuclear Corporation of America, a company involved in the nuclear instrument and electronics business in the 1950s and early 1960s. Nucor suffered through several money-losing years, and when facing bankruptcy in 1965, installed Ken Iverson as President and Sam Siegel as Financial Vice President. This change in management led to a restructuring and a decision to rebuild Nucor around the major profitable operations, which made steel joists in Florence, South Carolina and Norfolk, Nebraska. Nucor moved its corporate headquarters from Phoenix, Arizona to Charlotte, North Carolina in 1966, and in 1972 adopted the Nucor name. Management then directed its energies toward two basic businesses - the steel joist business, operated as Vulcraft, and the steel business, operated as Nucor Steel. Today Vulcraft is the nations largest producer of steel joists and steel girders, standard building components in non-residential construction. Nucor Steel has become well-recognized for its modern steel making techniques that can produce steel at a cost competitive with steel made anywhere in the world.