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AK Steel Temporarily Idles Kentucky Steel Works
10/16/2015 - U.S.-based AK Steel Corp. is idling the blast furnace and other steelmaking operations at its Ashland Works in Kentucky, the company has announced.
In a statement, AK Steel Chairman and CEO James L. Wainscott said the decision was prompted by a flood of unfairly traded steel imports.
“These imports have substantially reduced order intake rates, production rates, shipment volumes and selling prices," Wainscott said. "We will continue to closely monitor market conditions and run our overall operations as efficiently as possible to continue to meet our customers' needs."
The company said the plant’s hot-dip galvanizing line, which primarily serves the company’s automotive customers, is unaffected by the decision. The company said it has enough steelmaking capacity at its other plants to meet customer requirements; therefore, shipments won’t be interrupted.
The company said the idling is temporary, but could last more than six months. Assuming market conditions don’t improve, the company said layoffs will begin in mid-December. The plant employs about 940 people.
AK Steel is one of several U.S. producers that have filed trade complaints over imports of coated, cold rolled and hot rolled carbon steel.
“These imports have substantially reduced order intake rates, production rates, shipment volumes and selling prices," Wainscott said. "We will continue to closely monitor market conditions and run our overall operations as efficiently as possible to continue to meet our customers' needs."
The company said the plant’s hot-dip galvanizing line, which primarily serves the company’s automotive customers, is unaffected by the decision. The company said it has enough steelmaking capacity at its other plants to meet customer requirements; therefore, shipments won’t be interrupted.
The company said the idling is temporary, but could last more than six months. Assuming market conditions don’t improve, the company said layoffs will begin in mid-December. The plant employs about 940 people.
AK Steel is one of several U.S. producers that have filed trade complaints over imports of coated, cold rolled and hot rolled carbon steel.
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