For many people, Gregory James Aziz is probably not a household name. However, once they learn of all the good he has done for businesses, especially in the railroad industry, they cannot help but consider him one of the best businessmen and investors of the modern age. Gregory J. Aziz has an ability to come up with new and innovative business strategies, and he is not frightened to back an underdog. Because of these qualities, Greg Aziz has saved several companies from utter destruction, including National Steel Car.
National Steel Car was in its heyday in the early 20th century. Built upon a strategy of providing the highest-quality rolling stock to railroads in Ontario, National Steel Car never wanted to be a huge company, but just a strong and profitable one. When the trucking company started to steal the railroads’ share of the logistics business, however, sales for National Steel Car’s railcars started to drop, and management started to get nervous. To bolster the income statement, they started to change to a lower-cost strategy and drastically lowered the quality of the cars produced to save on costs. While this worked in the short run, customers started to notice. They backed out of contracts and left NSC hanging in the wind. In 1994, Greg Aziz came along and made some drastic changes to the business strategy to put National Steel Car back on the rails.
At this point, many investors would probably choose to strip the company of capital and just let it die. After all, National Steel Car was a supplier for a dying industry. However, Aziz knew better, and he started to pour more capital into projects to help bring production lines back up to the new industry standards. Greg Aziz started to hire more engineers and put an emphasis on better, high-quality designs that customers would be able to use for decades. He even hired an additional force of workers to help deal with the demand that he foresaw. Customers started to take notice and flocked back to National Steel Car. Refer to This Article for related information.
Now, National Steel Car is one of the only rolling stock manufactures left. They have contracts with all of the major railroads, and they have expanded from just a small market in Ontario to all of North America. Profits have never been higher, and capacity at the plant has increased by more than 300 percent. Thanks to the strategic mind of Greg Aziz, he brought back this company from bankruptcy and made them a leader in their industry. ISO have recognized the growth of the company awarding it the ISO 9001:2008 certification and received TTX SECO award for quality, for over a decade.