AK Steel Holding Corporation, through its wholly-owned subsidiary, AK Steel Corporation, operates as an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products. The company operates eight steelmaking and finishing plants, two coke plants, and two tube manufacturing plants across six states—Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia. These operations produce flat-rolled carbon, specialty stainless and electrical steels that the company sells in sheet and strip form, and carbon and stainless steel that it finishes into welded steel tubing. The company also produces metallurgical coal through its AK Coal Resources, Inc. subsidiary. In addition, the company operates trading companies in Mexico and Europe that buy and sell steel and steel products and other materials. The company owns Severstal Dearborn, LLC. The assets acquired include the integrated steelmaking assets located in Dearborn, Michigan; the Mountain State Carbon, LLC cokemaking facility located in Follansbee, West Virginia; and interests in joint ventures that process flat-rolled steel products. Customers and Markets The company sells flat-rolled carbon steel products, consisting of coated, cold-rolled, and hot-rolled carbon steel products, primarily to automotive manufacturers and their suppliers, as well as to customers in the infrastructure and manufacturing market. The infrastructure and manufacturing market primarily includes electrical transmission, heating, ventilation and air conditioning equipment, and appliances. The company also sells carbon steel products to distributors, service centers and converters, who might further process these products before reselling them. The company sells its stainless steel products to manufacturers and their suppliers in the automotive industry, to manufacturers of food handling, chemical processing, pollution control, medical and health equipment, and to distributors and service centers. For carbon and stainless steels, the company targets customers who require the flat-rolled steel with precise ‘just-in-time’ delivery and technical support. The company sells its electrical steel products in the infrastructure and manufacturing market primarily to manufacturers of power transmission and distribution transformers, both for new and replacement installation. The company also sells electrical steel products to manufacturers of electrical motors and generators. The company targets its electrical steel products to customers who desire the iron-silicon alloys that provide low core loss and high permeability required for more efficient and economical electrical transformers. As with customers of the company’s other steel products, the company provides its electrical steel customers outstanding technical support and product development assistance. For the company’s carbon steel, stainless steel and electrical steel products, it intentionally limits its participation in the commodity portions of those markets. Ford Motor Company and Fiat Chrysler Automobiles accounted for 12% and 11% of the company’s net sales in 2015. The company sells its carbon steel products principally to customers in the United States. The company sells its electrical and stainless steel products both domestically and internationally. Strategy During 2015, the company began to implement a strategy to target markets for its carbon steel products that deliver higher margins, where possible, and reduce amounts sold into the lower margin carbon steel spot market, which experienced a sharp decline in pricing as a result of a deluge of low-priced imports of foreign steel. Research and Development The company’s research and development costs were $27.6 in 2015. History AK Steel Holding Corporation was founded in 1993. The company was incorporated under the laws of Delaware in 1993.
ak steel holding corp (AK2:Frankfurt)
9227 Centre Pointe Drive
West Chester, OH 45069
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