AK Steel Applauds Transformer Efficiency Ruling
WEST CHESTER, Ohio, April 19, 2013
WEST CHESTER, Ohio, April 19, 2013 /PRNewswire/ --AK Steel (NYSE: AKS)
applauds the U.S. Department of Energy's (DOE) final ruling on efficiency
standards for electrical distribution transformers. The rule was published in
the Federal Register on April 18, 2013 following an extensive comment and
review process. It ensures that transformers in America will remain among the
most energy-efficient in the world, and that high-tech electrical steels will
continue to be a competitive material in the marketplace.
"As a global leader in the production of high-efficiency electrical steel
products, we are pleased with the Department of Energy's new standards," said
James L. Wainscott, Chairman, President and CEO of AK Steel. "The ruling is
good for America, and it leaves AK Steel well-positioned to meet the needs of
its electrical power distribution customers for years to come."
The DOE's new standards, which become effective in 2016, are not expected to
significantly impact the overall competitiveness of the company's
grain-oriented electrical steel (GOES) products used in electrical
distribution transformers. In fact, with respect to some types of
distribution transformers, the new standards have the potential to increase
the market for GOES.
AK Steel's grain-oriented electrical steels are some of the highest
value-added specialty products available in the steel industry. They are
iron-silicon alloys with specific magnetic properties necessary to produce
highly efficient and economical electrical transformers.
AK Steel produces flat-rolled carbon, stainless and electrical steels,
primarily for automotive, infrastructure and manufacturing, construction and
electrical power generation and distribution markets. The company employs
about 6,100 men and women in Middletown, Mansfield, Coshocton and Zanesville,
Ohio; Butler, Pennsylvania; Ashland, Kentucky; Rockport, Indiana; and its
corporate headquarters in West Chester, Ohio. Additional information about AK
Steel is available on the company's web site at www.aksteel.com.
AK Tube LLC, a wholly-owned subsidiary of AK Steel, employs about 300 men and
women in plants in Walbridge, Ohio and Columbus, Indiana. AK Tube produces
carbon and stainless electric resistance welded (ERW) tubular steel products
for truck, automotive and other markets. Additional information about AK Tube
LLC is available on its web site at www.aktube.com.
AK Coal Resources, Inc., another wholly-owned subsidiary of AK Steel, controls
and is developing metallurgical coal reserves in Somerset County,
Pennsylvania. AK Steel also owns 49.9% of Magnetation LLC, a joint venture
headquartered in Grand Rapids, Minnesota, which produces iron ore concentrate
from previously mined ore reserves.
SOURCE AK Steel
Contact: Media: Barry L. Racey, Director, Government and Public Relations,
(513) 425-2749, Investors: Albert E. Ferrara, Jr., Senior Vice President,
Corporate Strategy and Investor Relations, (513) 425-2888
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