AK Steel Project to Further Expand Electrical Steel Production
07/23/2008 - AK Steel’s board approves an additional $21-million capital investment to further expand the company's production capabilities for high value-added, grain-oriented electrical steels.
AK Steel’s board of directors has approved a $21-million capital investment to further expand the company's production capabilities for high value-added, grain-oriented electrical steels. These grades are currently in strong demand in both U.S. and global markets.
As part of the project, the company said it would install new production equipment at the Butler Works to utilize its proprietary special annealing technology, and would also upgrade an existing processing line at Butler. In addition to enhancing production capacity for higher-quality grades of electrical steels, the project should also help improve the company's product mix flexibility.
"AK Steel continues to respond to strong customer demand for our grain-oriented electrical steels," said James L. Wainscott, Chairman, President and CEO of AK Steel. "This latest capital investment will help AK Steel further serve the growing domestic and international markets for some of our highest energy-efficiency and highest valued products."
AK Steel—one of the world’s largest producers of silicon-alloy electrical steels—said the newly announced investment would complement previously-announced projects that are currently underway at the company's Butler and Zanesville plants, which is the company's fourth project in the past four years to expand production of electrical steels.
This project is expected to be completed in late 2009.
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 6500 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.
