If you work in the railroad industry, then you have probably heard of the company National Steel Car. This rolling stock manufacturer has been in the industry for over a century, and their focus on quality has earned them several awards and international renown. In fact, NSC is one of the only rolling stock manufacturers left in North America, and their reach is growing every day. What you might not know, however, is that National Steel Car nearly went out of business in the 1990s. Thanks to the likes of NSC’s CEO and Chairman, Gregory James Aziz, this did not happen.
Gregory J. Aziz purchased National Steel Car in 1994 for a bargain. The company had been hurting ever since trucking companies started replacing trains as the main method of transporting goods. However, in recent years, the owners of NSC had been making poor business decisions and decided to start stripping down the company rather than putting more capital in it to build it back up. These owners were so concerned about their returns that they let the company wither and almost die. When they sold it to James Aziz, these owners were losing millions of dollars every year. Aziz, however, had a plan to change this.
Greg Aziz had been building up failing companies for years. Ever since he graduated from the University of Western Ontario in 1971, Aziz had been able to read business markets and implement strategies to make businesses thrive. Now, he had to deal with a company that had been stripped and was only a shell of its former self. The first thing he did was make sure the strategy of the company was clear. Gregory Aziz made engineering and quality the top priority for all railcars. He knew that customers stopped coming to NSC because the previous owners had implemented a cost-savings strategy, which meant lower quality cars. However, now customers were being given products that would stay on the rails without worries of them becoming obsolete. Refer to This Article for more information.
Aziz then made sure to pour cash into the business, mainly purchasing new equipment and machinery that would be able to build these new, state-of-the-art cars for the customers. He hired thousands of additional workers to help with the new capacity and demand, and he started paying them better than surrounding plants.
Thanks to James Aziz’s quick thinking and ability to read business environments, National Steel Car is now one of the top rolling stock companies in North America. They have contracts with every major railroad, and their future has never looked brighter. This is all thanks to Greg Aziz.