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Kentucky Hopes to Prompt AK Steel to Relight Ashland Blast Furnace
04/15/2016 - Kentucky Gov. Matt Bevin has signed a bill meant to entice flat rolled maker AK Steel Corp. to relight the blast furnace at its Ashland Works, according to the Associated Press.
The bill, signed into law earlier this week, revises the state’s industrial revitalization program in AK Steel’s favor, extending deadlines for already existing incentives and offering new incentives that AK Steel could draw upon if it meets investment and employment benchmarks, the AP reported.
“We hope that’s incentive enough,” said state Rep. Lew Nicholls.
Whether it is remains to be seen. But as of the moment, AK Steel said it has no plans to resume steelmaking at the facility.
“We continue to evaluate the domestic and global market conditions, and the market conditions have not sufficiently improved to allow us to either restart the furnace or make plans for a reline of the furnace at this time,” the company said in a statement to AIST's Steel News.
“We appreciate the support of the Kentucky legislature and governor during these challenging times.”
The company idled Ashland’s blast furnace and steelmaking operations in late December 2015, blaming what it said was an onslaught of unfairly traded imports of carbon steel. The facility’s hot-dipped galvanizing line continues to operate.
“We hope that’s incentive enough,” said state Rep. Lew Nicholls.
Whether it is remains to be seen. But as of the moment, AK Steel said it has no plans to resume steelmaking at the facility.
“We continue to evaluate the domestic and global market conditions, and the market conditions have not sufficiently improved to allow us to either restart the furnace or make plans for a reline of the furnace at this time,” the company said in a statement to AIST's Steel News.
“We appreciate the support of the Kentucky legislature and governor during these challenging times.”
The company idled Ashland’s blast furnace and steelmaking operations in late December 2015, blaming what it said was an onslaught of unfairly traded imports of carbon steel. The facility’s hot-dipped galvanizing line continues to operate.
