The Association for Iron & Steel Technology (AIST) disclosed the T.C. Graham Prize contest.
This is a unique contest to recognize innovative applications for steel that may lead to the development of new markets. The winning entry will be awarded $20,000.
In April 2014, Thomas C. Graham Sr. donated $100,000 to establish the T.C. Graham Fund for Innovation in Steel Application. Individuals or groups of individuals (maximum of four people) are encouraged to submit proposals articulating innovation, practical application, performance and marketability of their ideas. Absolute market growth should be the focus of major efforts within each steel company as a matter of supreme urgency. The spirit of this fund is to catalyze these efforts by encouraging companies to take an active role in supporting the market development initiatives of their employees.
Tom C. Graham Sr. is widely known as one of the steel industry’s most successful and innovative executives. A former draftsman and civil engineer, he was named president of Jones & Laughlin Steel Corp. (J&L) in 1974. In 10 years, he took the company through a merger with Youngstown Sheet & Tube Co., and then an acquisition of Crucible Steel’s Midland plant. He departed J&L in 1983 to restructure United States Steel Corporation, where he served as president of the U. S. Steel Group of USX Corp. until 1991. Over that period, finished products went from eight man-hours per ton down to four man-hours per ton, contributing to a dramatic swing in profitability for the company. Graham had similar results as chairman and chief executive officer of Washington Steel Co. (1991–1992).
From 1992 to 1994, Graham was president and chief executive officer of Armco Steel Co. L.P., predecessor of AK Steel. He was the founder and served as chairman and chief executive officer of AK Steel Corp. (1994–1995), and remained as chairman until his retirement in 1997. After his arrival at Armco Steel in 1992, the company went from being the least profitable U.S. steel company to earning the most profit per ton, and producing steel with the fewest man-hours per ton of any of its major competitors over the following five years. He is now with TC Graham Associates as a founding member.
All entries must be submitted by December 31, 2014, and the winner(s) will be announced in the fall of 2015. Full details and information can be found on the T.C. Graham Prize web page.
Published in the October 2014 Edition of American Recycler News