AK’s Wainscott sees difficult future for US manufacturing

Dec 08, 2010 | 07:43 AM |

Irony is not lost on James Wainscott, chairman, president and chief executive officer of AK Steel Corp. Iron ore, on the other hand, is another story.

Wainscott noted the irony that exists in the West Chester, Ohio-based steelmaker's need for iron ore reserves in a keynote speech that was part of the celebration of the 100th anniversary of the Ohio Manufacturers Association in Columbus, Ohio.

He pointed out that George M. Verity, founder of AK predecessor Armco Inc., sought iron ore and other elements in the formation of the company 100 year ago.

"It's hard for me to know whether to feel comforted or conflicted knowing that, 100 years later, I face the very same problems," Wainscott told the audience, which included Ohio Gov. Ted Strickland, Ohio state legislators and numerous state manufacturers. "On the other hand, I'm jealous that Verity found his answer right here in Columbus. I'm afraid our search for raw materials will take us a bit further afield."....

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