Armco Steel
 |
|
| Public company | |
| Traded as | : AKS S&P 600 Component |
| Industry | Steel |
| Founded | 1899 (as The American Rolling Mill Company - Armco) |
| Headquarters | West Chester Township, Butler County, Ohio, United States |
|
Area served
|
Worldwide |
|
Key people
|
Roger K. Newport (CEO) Kirk W. Reich (President and Chief Operating Officer) James L. Wainscott (Chairman). |
| Products | flat-rolled carbon steel, stainless steel, electrical steel, and tubular products |
|
Production output
|
6,051,000 tons |
| Revenue |
 US$5.882 billion (2016) |
 US$230 million (2016) |
|
|
-US$7.8 million (2016) |
|
| Total assets |
US$4.036 billion (2016) |
| Total equity |
US$90 million (2016) |
|
Number of employees
|
8,500 (2016) |
| Subsidiaries | AK Tube, AK Coal |
| Website | www.aksteel.com |
AK Steel Holding Corporation is a steel producer headquartered in West Chester Township, Butler County, Ohio. The company's name is derived from the initials of Armco, its predecessor company, and Kawasaki Steel Corporation, which contributed several of its production facilities to the company in 1989 in exchange for a large stake in the company.
The company has been criticized for its record regarding pollution and worker safety.
The company operates 8 steel plants and 2 tube manufacturing plants. The steel plants are in Ashland, Kentucky, Butler, Pennsylvania, Coshocton, Ohio, Dearborn, Michigan, Mansfield, Ohio, Middletown, Ohio, Rockport, Indiana, and Zanesville, Ohio.
Of the company's 2016 sales, 66% was to the automotive industry, 16% was to infrastructure and manufacturing industry, and 18% was to distributors and converters.
Armco's best known products include:
The company was founded in 1899 as The American Rolling Mill Company (Armco) in Middletown, Ohio, where it operated a production facility.
In 1901, it opened a second production facility, Ashland Works in Ashland, Kentucky.
During the late 1970s and 1980s, corporate finances and business declined, as with much of the US steel industry, and Armco faced several pollution and obsolescence/international competition issues, which resulted in a general decline of workforce size and profitability and closure of several older facilities.
In 1971, Armco Steel purchased Kansas City-based engineering firm Burns & McDonnell; however, in 1985, employees of Burns & McDonnell secured a loan to buy the company from Armco.
In 1978, Armco Steel was renamed Armco, Inc. It moved its headquarters to New Jersey in 1985.
In 1989, it entered into a limited partnership with Kawasaki Steel Corporation. Kawasaki Steel Corporation contributed several of its production facilities to the company.
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Wikipedia