Nucor President and CEO Leon Topalian has had quite the year, taking the reins of Nucor in January and then steering the company through the COVID-19 pandemic. Unlike Nucor’s blast furnace competitors, the EAF-based steelmaker was able to continue operations relatively unabated during the past two quarters.
“Our ability to continue operating, along with proactive engagement with our customers, has enabled us to grow our businesses with existing customers, as well as develop new customer relationships,” said Topalian during second-quarter earnings comments. “I don’t want to return to pre-COVID operating or performance levels. I want us to continue to focus on the things that we’ve been able to do over the last five months that will be a part of our business as we move forward.”
Among that focus is a number of ongoing projects including the Brandenburg plate mill, expansion and modernization of the Gallatin mill and gaining automotive market share.
“With regard to automotive, while we’re not GM’s, or Ford’s, or BMW’s, or Mercedes’ Tier 1 biggest supplier, we are working every day to be their best supplier…. So, even though autos will be down this year and probably for the next year in terms of pre-COVID levels, our share of that opportunity is going to grow.”
Topalian is among the CEOs slated to speak at the SMU Steel Summit 2020. Register here to join your peers for the Aug. 24-26 virtual conference.
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