AK Steel
AK Steel Holdings Corporation was an American steelmaking company headquartered in West Chester Township, Ohio. The company, whose name was derived from the initials of Armco, its predecessor company, and Kawasaki Steel Corporation, was acquired by Cleveland-Cliffs in 2020.
| Company type | Public |
|---|---|
Traded as | NYSE: AKS |
| Industry | Steel |
| Founded | 1899 (as The American Rolling Mill Company - Armco) |
| Defunct | March 13, 2020 |
| Fate | Acquired by Cleveland-Cliffs |
| Headquarters | West Chester Township, Ohio, U.S. |
Area served | Worldwide |
Key people | Roger K. Newport (CEO) Kirk W. Reich (president & COO) James A. Thomson (chairman) |
| Products | Carbon steel Stainless steel Electrical steel Tubular products |
Production output | 5,596,200 tons |
| Revenue | $6.818 billion (2018) |
| $384 million (2018) | |
Net income | $186 million (2018) |
| Total assets | $4.515 billion (2018) |
| Total equity | $429 million (2018) |
Number of employees | 9,500 (2018) |
| Parent | Cleveland-Cliffs |
| Subsidiaries | AK Tube AK Coal |
| Website | www |
| Footnotes / references | |
AK Steel operated eight steel plants and two tube manufacturing plants in Ashland, Kentucky, Butler, Pennsylvania, Coshocton, Ohio, Dearborn, Michigan, Mansfield, Ohio, Middletown, Ohio, Rockport, Indiana, and Zanesville, Ohio. The company had manufacturing operations in the United States, Canada, and Mexico, and facilities in Western Europe. AK Steel produced flat-rolled carbon, stainless and electrical steel products, primarily for the automotive, infrastructure and manufacturing sectors, including electrical power, and distributors and converters markets. The company also provided carbon and stainless steel tubing products, die design and tooling, and hot- and cold-stamped components. Of AK Steel's 2018 sales, 63% went to the automotive industry, 15% to infrastructure and manufacturing industry and 22% to distributors and converters.
The company was criticized for its record regarding pollution and worker safety.
In 2019, AK Steel was named GM Supplier of the Year for Non Fabricated Steel by General Motors for the second consecutive year. AK Steel was also presented with a Smart Pillar Award from Ford, as a top-performing global supplier at the 21st annual Ford World Excellence Awards.