World Steel Dynamics Recognizes AK Steel as a World-Class Steelmaker
06/25/2008 - World Steel Dynamics adds AK Steel to its list of World-Class Steelmakers, reflecting the company's noteworthy turnaround since 2003.
World Steel Dynamics has added AK Steel to its list of "World-Class Steelmakers," reflecting the company's noteworthy turnaround since 2003.
World Steel Dynamics (WSD), a steel industry strategic information service, made the announcement at this week's Steel Success Strategies conference held in New York.
“AK Steel's common stock when Jim Wainscott was appointed President and CEO in 2003 was under $2 per share,” noted Peter F. Marcus, Managing Partner of WSD. “Share performance has since been stellar, trading at over $73 per share in the last month. In addition, AK Steel's operating profit per ton is now the highest among the USA integrated producers, and its balance sheet is remarkably improved.”
Marcus noted that the company has leading market positions in high value-added products, including automotive sheet products, stainless steel for automotive exhaust applications, and the highest valued-added silicon electrical steels. He added that AK Steel is consistently rated at the top of its class in product quality by customers, according to independent surveys.
“We are excited and honored that AK Steel has been named to WSD's prestigious list of World-Class Steelmakers,” said James L. Wainscott, Chairman, President and CEO of AK Steel. "Attaining recognition as one of the finest steel producers on the planet is a tribute to the hard work and dedication of AK Steel's outstanding board of directors, management team and employees."
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.
