Industry Week recently released its list of the world’s 1000 largest manufacturers. While the usual suspects retain top spots (No. 1 Exxon Mobil Corp., No. 2 Royal Dutch Shell PLC and No. 3 BP PLC), an Indiana company received notoriety for scaling the list.
Fort Wayne-based Steel Dynamics Inc. jumped 246 spots to No. 465 (the company was No. 711 in 2008). No other U.S. company achieved such a large gain and only two other company gained more spots on the list – India’s Tata Steel Ltd. moved up the ranks by 384 and China’s Jiangxi Copper Co. Ltd. gained 377 spots.
IW notes that Steel Dynamics achieved significant growth “after a strong first nine months in 2008. The company posted a loss in the fourth quarter when steel shipments fell 34% from the third quarter.” Steel Dynamics posted an 84.3% growth in revenue last year, according to the report.
The Industry Week 1000 ranks the largest publicly held manufacturing companies based on revenue. With 290 companies on the list, the United States dominates. Other Indiana-based companies held steady in the ranks, gaining a spot or losing a few: Eli Lilly & Co. ranked No. 201; Cummins Inc. No. 284; and Zimmer Holdings Inc. No. 781. Numerous other companies with operations in the Hoosier state are included in the ranks.