Car in Pieces

When a Risky Investment Pays Off Big: National Steel Car and Gregory Aziz

Investing in a failing business is not usually on the list of good things to do as an investor. While there are ways that good businessmen can turn around a failing business, it is usually not worth the time or money to do it, and these projects generally take decades to complete. However, there are some investors and businessmen capable of turning around a failing business, and Gregory James Aziz is one of those men.

 

After graduating from the University of Western Ontario in 1971, Aziz started his career by working as an executive at his family’s company, Affiliated Foods. After 16 years in this business, Greg Aziz made his business acumen and ability to make great things happen known. He successfully negotiated several contracts with major suppliers in South America, and he was even able to gain additional customers in the United States, a market never before severed by Affiliated Foods. Now that he knew he could handle business, Aziz wanted a new challenge. In 1994, he purchased that very challenge.

 

The challenge was called National Steel Car, and it was a failing company that produced nearly obsolete products for an industry that was in decline. Not many businessmen would take this company on, but Gregory J. Aziz never doubted that he would be able to turn it around. After getting settled in, Aziz quickly identified what he thought the problem was. The previous owners started to get worried about the declining industry and decided to cut costs rather than invest in the business and adapt. Aziz focused his strategy on adapting.

 

The railroad industry was currently being hammered by legislation requiring railcars and engines to be made safer and less prone to weathering. This meant that customers were looking for cars that were of the highest quality and safety standards. Greg Aziz made his engineering department focus on better designs rather than cheaper designs, and he put millions of dollars into new equipment that was top-of-the-line and of the highest standards in the industry. Once customers started to hear about this new and improved National Steel Car, they began to take notice. Go Here for more information.

 

Now National Steel Car is thriving, and Gregory Aziz is one of the most successful railroad tycoons in North America. NSC is bringing in over $200 million in revenue every year, and they are one of the only rolling stock providers left. They have contracts with nearly every major railroad, and there is no sign of their success stopping. Thanks to a chance taken by Greg Aziz, nearly 3,600 people have a job, and a company was saved.

 

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