| AK Steel to Keep Middletwon Works Productive |
| Wednesday, May 13, 2009 3:56:43 PM - Middletown Ohio |
AK Steel is adjusting to the global slowdown by shutting down Ashland Works
AK Steel (NYSE:
AKS) announced today that it will likely idle most of its Ashland (KY)
Works beginning late in July or early August. The idling will affect
about 750 hourly and salaried employees, and is the result of recent
announcements by GM and Chrysler of significant production
curtailments, along with the continuing global recession. The company
said the plant is likely to remain idled at least through the balance
of 2009.
"Unfortunately, at these very depressed business levels, we do not have
sufficient carbon steel orders to operate both of our blast furnace
plants," said James L. Wainscott, chairman, president and CEO of AK
Steel. "The Ashland Works is not capable of producing the full range of
slab widths required by our customers, and lacks any rolling
facilities. Thus, the Middletown (OH) Works is the only efficient
choice for this very low level of orders."
All steel slabs produced at the Ashland Works must be transported
approximately 150 miles to the company's Middletown Works for
conversion to hot-rolled coils. The Ashland Works also employs about
290 men and women at a coke plant which is currently scheduled to
continue operating at a reduced level.
"It is our hope that a steady global economic recovery will translate
as quickly as possible to the resumption of higher levels of production
and elimination of the uncertainty that burdens our employees," said
James L. Wainscott, chairman, president and CEO.
SOURCE AK Steel
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