AK Steel Honored for Excellence in Manufacturing
03/13/2008 - Leading Cincinnati business publication Cincy magazine honors AK Steel for excellence in manufacturing for 2007.
AK Steel has received a MANNY award for excellence in manufacturing from Cincy magazine, a leading business publication in Greater Cincinnati. The award recognizes the company for its "Breakthrough" performance in 2007.
According to the magazine, AK Steel led all U.S. integrated steelmakers in adjusted operating profitability in 2007, despite the negative effect of historically high raw material and energy costs. As a result of its cost-control efforts, liability-reduction initiatives and asset maximization strategy, the company is once again on solid financial footing.
"We are honored to receive a MANNY award from Cincy Magazine," said James L. Wainscott, AK Steel Chairman, President and CEO. "For AK Steel, 2007 was a breakthrough year defined by record performances across all of our key metrics, including safety, quality, productivity and financial results. I congratulate and thank all of our employees for their contributions to AK Steel's success."
Award recipients were selected by an independent panel assembled by Cincy magazine. Candidates were evaluated on the basis if five key areas of success: job creation, work environment, innovation, breakthroughs, and growth.
AK Steel was recently listed among FORTUNE magazine's "America's Most Admired Companies" for 2008, receiving a number-one ranking in the metals sector for product quality and use of corporate assets. The company was also listed among CNNMoney.com's Top 10 Best Performing FORTUNE 500 stocks for the year 2007. With a 174% gain in value, AK Steel claimed the second spot on this prestigious list.
AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for automotive, appliance, construction and electrical power generation and distribution markets. The company employs about 6,500 men and women in Middletown, Mansfield, Coshocton and Zanesville, Ohio; Butler, Pa.; Ashland, Ky.; Rockport, Ind.; and its corporate headquarters in West Chester, Ohio.
AK Tube LLC, a wholly owned subsidiary of AK Steel, employs about 300 men and women in plants in Walbridge, Ohio, and Columbus, Ind. AK Tube produces carbon and stainless electric resistance welded (ERW) tubular steel products for truck, automotive and other markets.
