MiddletownJournal.com

WEST CHESTER TWP. — AK Steel Corp. has been named to the list of "World-Class Steelmakers" for its impressive company turnaround since 2003.

The company was named during a Steel Success Strategies conference in New York. The list was created by World Steel Dynamics, a steel industry strategic information system.

"AK Steel's common stock when Jim Wainscott was appointed president and CEO in 2003 was under $2 per share," said Peter Marcus, managing partner of WSD. "Share performance has since been stellar, trading at over $73 per share in the last month. In addition, AK Steel's operating profit per ton is now the highest among the USA integrated producers and its balance sheet is remarkably improved."

The company was the industry leader in spot market price increases for its steel products, pushing the price for hot-rolled carbon steel above $1,000 per ton for the first time, according to industry analysts.

It's ability to stay on top of raw material increases and increased demand has helped AK Steel to have leading market positions in high value-added products, including automotive sheet products, stainless steel for automotive exhaust applications, and the highest valued-added silicon electrical steels, Marcus said.

He added that, according to independent industry surveys, AK Steel is consistently rated at the top of its class in product quality by customers.

"We are excited and honored that AK Steel has been named to WSD's prestigious list of World-Class Steelmakers," said Jim Wainscott, chairman, president and CEO of the company.

"Attaining recognition as one of the finest steel producers on the planet is a tribute to the hard work and dedication of AK Steel's outstanding board of directors, management team and employees."

Contact this reporter at (513) 705-2843 or jlander@coxohio.com.