WEST CHESTER, Ohio,
May 15, 2015 /PRNewswire/ -- AK
Steel (NYSE: AKS) has received a "Deal Maker of the Year" award
from the Association for Corporate Growth (ACG) for the company's
$690 million acquisition of Severstal
Dearborn, LLC. The award was presented at the ACG Cincinnati
chapter's annual awards event held on May
13, 2015. ACG presented awards in five
categories. AK Steel and The Kroger Company were award
winners in the category for corporations with over $1 billion in annual revenues.
"We are honored to be recognized by ACG for our Dearborn acquisition, and we extend our
sincere congratulations to Kroger and to each of our fellow Deal
Maker award recipients," said James L.
Wainscott, Chairman, President and CEO of AK Steel.
"The successful completion of our Dearborn acquisition in the fall of 2014 has
been a transformational deal for our company. It has
strengthened AK Steel as a premier North American steel
manufacturer and enhanced our company's ability to serve customers
with increased size, scale and operational flexibility."
Mr. Wainscott added, "The Dearborn acquisition helped increase AK
Steel's revenues to about $6.5
billion in 2014. With our corporate headquarters
located in West Chester, Ohio, we
believe that our company's growth will also benefit the entire
southwestern Ohio region.
The annual ACG award recognizes individuals and corporations for
their pursuit of corporate growth via mergers and acquisitions
along with efforts that drive continued growth and vitality of the
region's business community.
AK Steel acquired the Dearborn
integrated steelmaking operations located in Dearborn, Michigan in September 2014.
The deal also included the acquisition of the Mountain State Carbon
cokemaking facility in Follansbee, West
Virginia and ownership in three joint ventures that finish
flat rolled carbon steel products.
Separately, in February 2015, AK
Steel announced plans to build a new $36
million world-class Research and Innovation Center in
Middletown, Ohio. The new
Research and Innovation Center will be located in the Cincinnati – Dayton growth corridor along Interstate
75. Groundbreaking for that facility is planned for late in
the second quarter of 2015.
AK Steel
AK Steel is a world leader in the production of flat-rolled carbon,
stainless and electrical steel products, primarily for automotive,
infrastructure and manufacturing, construction and electrical power
generation and distribution markets. Headquartered in
West Chester, Ohio (Greater Cincinnati), the company employs
approximately 8,000 men and women at eight steel plants, two coke
plants and two tube manufacturing plants across six states:
Indiana, Kentucky,
Michigan, Ohio, Pennsylvania and West Virginia. Additional information about AK
Steel is available at www.aksteel.com.
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SOURCE AK Steel