July 21, 2008
AK Steel to Invest $21 Million More into Butler Plant
By The Pittsburgh Tribune-Review
Jul. 21--AK Steel Corp. plans to invest $21 million more into its Butler plant to further expand production capabilities for high value-added grain-oriented electrical steels that are in strong demand in both the U.S. and global markets.
The new project will be completed late next year, the West Chester, Ohio-based steelmaker, said today.
AK Steel already is implementing a $180 million capital program to increase production at its Butler and Zanesville, Ohio plants, which was announced last October. Most of that investment is at the Butler plant, the company said last year when it announced the projects.
The new capital investment includes installing production equipment at the Butler plant to use AK Steel's proprietary special annealing technology, as well as upgrading an existing processing line at Butler.
The company did not say if it will increase jobs at the plant as a result of the investment, and spokesman Alan McCoy could not be reached for comment.
In addition to enhancing production capacity for higher quality grades of electrical steels, the company said the project will also help improve AK Steel's product mix flexibility. Grain-oriented electrical steels are used in the manufacturing of energy-efficient power generation and distribution transformers.
"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. "
AK Steel, which has about 6,500 employees at plants in Pennsylvania, Ohio, Indiana and Kentucky, makes flat-rolled carbon, stainless and electrical steels, primarily for automotive, appliance, construction and electrical power generation and distribution markets.
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