National Steel Car: Purchased by Gregory James Aziz from the Dominion Foundries and Steel

1The National Steel Car is one of the longest standing businesses in Canada. The company has been around for more than 100 years, and they are celebrating their 106th foundation anniversary this year. Through the years of operation, the National Steel Car was placed under the ownership of several entities. Gregory James Aziz is the current owner of the rolling stock manufacturing firm, but decades ago, the company was under the control of the Dominion Foundries and Steel, more commonly known as Dofasco.

 

 

After the Second World War, the National Steel car was purchased by the Dominion Foundries and Steel, back in the 1960s. The Dominion Foundries and Steel thought that investing in a rolling stock manufacturing firm is a good idea because the industry of railroad transportation is booming back then. However, the National Steel Car only experienced little growth under the ownership of the Dominion Foundries and Steel. During the early 1990s, the Dominion Foundries and Steel decided to sell the National Steel Car because of poor performance, and they thought that the company is slowly becoming a liability for them. They also stated that there is a looming crash in the rolling stock manufacturing industry, and they do not want to be affected by the railroad industry’s meltdown.

 

 

Gregory James Aziz was working back then in the financial and business sector, and when he found out that the Dominion Foundries and Steel is selling the National Steel Car, he presented his offer and asked the company to sell it to him. Dominion Foundries and Steel accepted the payment offered by Gregory J Aziz, and the ownership of the company was transferred to his name. Gregory James Aziz bought the company in 1994, and surprisingly, the crash that the Dominion Foundries and Steel feared never happened.

 

Being the new owner of the National Steel Car, Gregory James Aziz introduced several reforms that would help the employees working inside the manufacturing plant. The first reform that he introduced is the addition of more employees who will be working with the old employees. The second reform that he introduced was the assurance that more benefits would be given to the employees, and he also imposed company rules and regulations that would protect the employees. Because of the reforms that he introduced within the company, the employees working for the National Steel Car felt being cared for, and their productivity increased resulting in more rolling stocks manufactured by the company. Get Related Information Here.

 

Visit: https://gregoryaziz1.wordpress.com/national-steel-car/

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