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WCI Steel Announces New CEO and President, Resumption of Operations

12/06/2007 - WCI Steel announces its new CEO and President, as well as the resumption of blast furnace operations following the Nov. 9 fire in two of the furnace's hydraulic control rooms.

WCI Steel, Inc. has named Leonard M. Anthony President, Chief Executive Officer and a member of the Board of Directors, effective immediately.
 

WCI resumed blast furnace production this week following the Nov. 9 fire in two of the furnace's hydraulic control rooms.
 
The company expects the plant to be back to full operation over the next week, with operations set to resume at the hot strip mill later this week.
 
The new walking beam furnace at the hot strip mill is expected to be in operation by mid-to-late December, well ahead of the previously announced January start-up. The $37-million walking beam furnace will enable WCI to improve surface quality and provide hot-rolled bands in larger coil sizes up to 1000 PIW.
 
 
"Len Anthony is an exceptional individual, capable of providing strong, experienced leadership as we confront the actions necessary to return WCI Steel to profitability,” said Jack W. Sights, Chairman of the WCI Steel Board of Directors. “We expect that under Len's leadership, combined with an increased focus on customer service, quality and cost reduction, WCI Steel will enhance its position as a provider of custom steel to niche markets. We remain optimistic about the future of WCI's business with Len as our new President and Chief Executive Officer."

 
Anthony, 53, has more than 25 years of financial and operational management experience. He joined Bethlehem Steel Corp. in 1979, where he advanced through increasingly responsible positions, becoming Chief Financial Officer in 2001 and serving in that position until Bethlehem was acquired by ISG in 2003. He subsequently served as Chief Financial Officer of International Steel Group until it was acquired by ArcelorMittal. He also is the former Executive Vice President and Chief Financial Officer of Dresser-Rand Corp., having led that company through a very successful IPO on Aug. 5, 2005.
 
Anthony earned a bachelor's degree in accounting from Pennsylvania State University, a master's in business administration from the Wharton School of the University of Pennsylvania, and an AMP from the Harvard Business School.
 
WCI Steel is an integrated producer of value-added, custom steel products serving niche markets, emphasizing customer and technical service. The company currently produces 185 grades of flat-rolled custom and commodity steel products at its Warren, Ohio facility, focusing on a wide range of custom flat-rolled steel products, including high carbon, alloy, ultra-high-strength, and heavy-gauge galvanized steel. WCI Steel is also focused on developing closer, more responsive relationships with customers. Major customers include steel converters, processors, service centers, construction product companies and, to a lesser extent, automobile manufacturers.