Is AK Steel in Butler closing?

The sale of AK Steel to Ohio-based Cleveland-Cliffs is now official. Cleveland-Cliffs CEO Lourenco Goncalves said last week that he would shut down the newly-acquired plants in Butler and Zanesville, Ohio unless a loophole was closed in the steel tariffs put in place by President Donald Trump.

Who bought AK Steel in Butler PA?

Cleveland Cliffs
When Cleveland Cliffs, the country’s largest producer of iron ore pellets, acquired AK Steel in early 2020, it said in a news release that AK Steel would retain its branding.

Why did AK Steel Close?

AK Steel Corp. said the Dearborn factory is closing “due to rapidly deteriorating business conditions.” The company informed state officials in a letter dated Monday. AK Steel, based in West Chester, Ohio, is described as a leading producer of flat-rolled carbon, stainless and electrical steel products.

Did AK Steel get sold?

He said Cleveland-Cliffs, which purchased AK Steel for $1.1 billion in 2020, sent out an internal email Friday announcing the name change. The deal made Cleveland-Cliffs the largest flat-rolled steel producer in North America, officials said.

Where are AK Steel plants located?

The steel plants are in Middletown; Ashland, Ky.; Butler, Pa.; Coshocton; Dearborn, Mich.; Mansfield; Rockport, Ind.; and Zanesville. Headquartered in West Chester, the company has approximately 9,500 employees at manufacturing operations in the United States, Canada and Mexico, and facilities in Western Europe.

What is AK Steel new name?

April 7, 1994: The name Armco was replaced by AK Steel. April 7, 2017: The company celebrated the grand opening of its new Research and Innovation Center in Middletown. March 13, 2020: Cleveland-Cliffs announced it had purchased AK Steel for $1.1 billion.

Did AK Steel change names?

AK Steel, which was acquired by Cleveland Cliffs in March 2020, will officially change its name along with all Cleveland Cliffs subsidiaries, according to local news reports.

How many people have died from AK Steel?

National Steel Corp., which has roughly twice as many employees as AK Steel’s Middletown plant, has had two fatalities at three facilities in the same two-year period. Bethlehem Steel Corp. has had 11 deaths, but at 10 facilities employing a total of about 19,000 people.

Who owns AK Steel now?

AK Steel Holding Corporation
AK Steel Holding/Parent organizations

How much is AK Steel worth?

Price/Earnings ttm 4.56.

Is AK Steel still in business?

AK Steel delisted from NYSE after closing $3B acquisition deal. AK Steel Holding Corp. AK Steel, the West Chester Township-based producer of flat rolled carbon and steel products, is now a wholly owned subsidiary of Cliffs and will retain its branding and corporate identity.

How much is AK Steel stock today?

AKS Price/Volume Stats

Current price	$1.55	52-week high
Day low	$1.55	Volume
Day high	$1.55	Avg. volume
50-day MA	$2.74	Dividend yield
200-day MA	$2.57	Market Cap

Is the AK Steel plant in Butler PA unprofitable?

According to Goncalves, the tariffs failed to include electrical steel laminations and cores used in transformers and motors. “AK Steel mills in Butler, Pennsylvania and Zanesville – the last producers of grain-oriented electrical steels in the United States – are unprofitable because of a loophole in the steel tariffs,” Goncalves said.

Who is the CEO of AK Steel Company?

Lourenco Goncalves, CEO of Cleveland-Cliffs Inc., the company that is set to close on a $3 billion acquisition of AK Steel on March 13, testified before the Congressional Steel Caucus in Washington D.C. on Thursday, strongly advising better protection against imports of electrical steel products.

Is the US steel industry strong or weak?

By some metrics, Conway told the caucus, the steel industry is strong. However, there are not only signs of weakness, but also looming threats that must be addressed to ensure the future of the industry, its workers and the country.