National Steel Car: Becoming a Global Player

Home / National Steel Car: Becoming a Global Player

The National Steel Car is one of the largest rolling stock manufacturing companies in Canada. They proved to be the leader in the rolling stock manufacturing industry, and their experience of more than 100 years adds to their positive reputation. The company is presently under the ownership of Gregory James Aziz, who is also serving as the present chairman, president, and chief executive officer of the National Steel Car. Experiencing their Golden Age during their early years, the National Steel Car went through ups and downs as time went by, being on the brink of bankruptcy twice. Without the help of Gregory J Aziz, the National Steel Car might have faded into the horizon.

 

In 1912, the National Steel Car was founded by a group of investors in the city of Hamilton, Ontario, Canada. The company grew tremendously after its foundation because of the high demands of rolling stocks. During this period, the Trans-Canadian Railway is still under construction, but companies which will pioneer passenger rail road transport is already ordering bulk from the National Steel Car. The company reached its peak success in the late 1920s and the early 1930s, and during this period, so many orders are coming in every day, and they are manufacturing a lot of rolling stocks annually. However, the National Steel Car did not expect that the coming years would become difficult for them. As the Great Depression started, companies and businesses around the world closed down because of the economic meltdown. The fate of the National Steel Car turned around, and the once strong and in demand company faces bankruptcy. They had to resort in creating other products, just to survive the Great Depression.

 

The National Steel Car managed to survive the economic meltdown that paralyzed businesses around the world, and during the Second World War, they were contracted by the government of Canada to manufacture war machines and vehicles. They used this opportunity to bounce back, and the revenue of the National Steel Car has seen a comeback. They would experience steady growth until the late 1980s, when the industry faced another challenge. Get More Information.

The company, now under Dofasco, is facing another threat of bankruptcy. Dofasco decided to sell them in order for National Steel Car not to become a liability to the Canadian steel manufacturing company. Greg Aziz purchased the National Steel Car in 1994, and he contributed a lot to make the company rise again. The company has seen new opportunities at the end of the rolling stock manufacturing crisis. Their annual production of rolling cars grew to 12,500, and the number of employees grew to 3,000. The National Steel Car also received an ISO 9001:2008 certification, along with multiple excellence awards. Gregory James Aziz promised that he will transform the National Steel Car to become a global player in the years to come.

More On: https://www.bloomberg.com/research/stocks/private/person.asp?personId=39124620&privcapId=35787198