Its achievements have been based on technological innovations, the ability to spot opportunities far enough in the future to justify investment, and on a management style that encourages creativity among employees.
Nucor operates seven divisions: minimill, Vulcraft, steel bars, steel grinding balls, bolts, steel bearings and machined parts, and metal buildings. It is a recognized leader in the minimill sector, and has a lower labor cost structure than its competition. The Vulcraft division, which produces steel joists and similar material, was the company's first steel business and the fact that Nucor is in the minimill business at all is due to the company's desire to provide vertical integration to this business unit. Marketing for Vulcraft occurs on a national level, and competition centers on delivery and price. The cold finish bar division is used to make machine shafts and precision parts. The company competes on price in this segment, as well, and currently has approximately 16 percent of the market. The company has a good cost structure which gives it favorable pricing capabilities in the market.
Nucor's four remaining divisions are responsible for approximately seven percent (combined) of the company's sales for the most recent year. Most of these divisions are operated effec