National Steel Car: History of Canadas Largest Rolling Stock Manufacturer

Gregory James Aziz, the current president, chairman, and CEO of the National Steel Car shared some of the most interesting stories about the company that he manages before it went under his ownership in 1994. According to Greg Aziz, the National Steel Car has founded in the city of Hamilton 100 years ago. During the height of the construction of the Trans-Canadian Railway, wealthy investors in the city discussed how they could benefit from the monumental project. One of the investors suggested that since the government is building the railway, they should be creating a manufacturing company that would produce the rolling stocks. The group agreed to the suggestion, and the National Steel Car was founded in 1906.

 

 

It was a great start for the company, and they referred to the years before the 1930s as their “golden age.” Every single day, more and more orders are coming in, and the National Steel Car is servicing all kinds of clients – from giant railway transport corporations to small-time rolling stock buyers. The Canadian Government even contracted them to supply the rolling stocks to be used for public transport. The National Steel Car has been posting high revenues, and it made them as one of the most profitable companies in Canada.

 

 

However, things have changed in the late 1920s. The Great Depression, one of the darkest moments in the history of the world, creeped in every corner of the globe. It caused businesses to close down, and millions around the world lost their jobs. The National Steel Car struggled during this period, and they did everything that they can to avoid bankruptcy. When the Second World War broke out, the National Steel Car found a way on how they can recoup their losses during the Great Depression. They volunteered to create war machines and vehicles, and they earn revenues during the process. After the war, the National Steel Car managed to get back on track, and they returned on manufacturing rolling stocks. Find Related Information Here.

 

Dofasco bought the company in the 1960s, but sold them later on in the 1990s because of a severe crisis that hit the rolling stock manufacturing industry. Gregory James Aziz stated that he bought the company from Dofasco because James knew that he can turn the tides and make the company a profitable business. The optimism of Gregory James Aziz helped the National Steel Car become one of Canada’s most profitable companies today.