Nucor Corporation started in the 1950s in the nuclear instrument and electronics business but faced bankruptcy. A new CEO exited that business and rebuilt the company around its steel joist subsidiary. Nucor has since expanded significantly in steelmaking using electric arc furnaces and scrap materials, becoming the second largest steel producer in the US. Its strategies of decentralization, innovation, joint ventures, and focus on low costs have been very effective in growing the business while remaining competitive against imports. However, Nucor must also be wary of new low-cost entrants that could threaten its customer base and profits.