Greg Aziz is one of those people who have the ability to take something that many people are unsure of and turn it into a sure thing. He has been able to make failing businesses successful again for his whole life, and much of this can be attributed to his ability to think outside of the box and in new and innovative ways. His most recent turnaround was with National Steel Car.
National Steel Car had been one of the best suppliers of rolling stock and freight cars for trains in the first half of the 20th century. Nothing could keep this company down, and soon enough NSC had contracts with every major railroad operating in Ontario. However, when the trucking industry started to grow more prominent and the railroads started to contract into only a few large companies, National Steel Car felt the effects. The owners decided to start pulling their capital out and refused to invest any more into the company, compounding the poor sales with even poorer sales due to low-quality cars being produced. Many investors would have turned down this investment and never looked back. After all, it would be hard work and take a lot of money to make this thing work again. Gregory James Aziz, however, saw this as an excellent opportunity. In 1994, he purchased National Steel Car and went to work.
Gregory J. Aziz had turned around a company like this before. In the 1970s and 1980s, he had taken Affiliated Foods from being a struggling, local purveyor of foodstuffs into an international distributor with customers all over North America. Now he was about to do the same thing with National Steel Car. Gregory James Aziz looked carefully at the industry and realized that low-cost cars were not in demand. Regulations and safety rules made it so companies needed better-designed cars if they wanted to operate on the rails. Greg Aziz put more money and an emphasis on engineering for the Company, promoting new designs and hiring better talent to get things done.
Greg Aziz also started putting more money into capital projects, such as newer equipment and machinery. He increased capacity and hired more workers. IN essence, Gregory Aziz put money into National Steel Car so that it would lose less money, a strategy rarely used by investors. This worked. See Related Link to learn more.
Now National Steel Car is one of the only players left in the North American freight market. The company posts triple digit earnings every year, and it has contracts with railroads all over North America. Gregory Aziz used his knowledge of industry and his business sense, not to mention his innovative thinking, to build an excellent company.
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