AK closing Ashland coke plant
Dec 29, 2010 | 06:53 AM
| Lisa Gordon
Higher operating costs and potential upgrade costs in excess of $50 million have led to AK Steel Corp.'s decision to permanently close its Ashland, Ky., coke plant in the upcoming year.
The company said increased maintenance costs, coupled with more rigorous environmental regulations, have made the coke plant no longer cost competitive. Of all AK Steel's coke sources, Ashland is the highest-cost facility.
Measures are underway for the closure, which is expected to be finalized in the second quarter of 2011.
AK Steel said it will attempt to find jobs for the coke plant's 263 hourly and salaried employees either at its nearby Ashland Works or somewhere else within the company. "AK Steel recognizes that this is a difficult time for the employees who are affected," said James L. Wainscott, chairman, president and chief executive officer. "We are committed to helping them as much as possible during this transition, including, where possible, placing them in jobs available elsewhere at the Ashland Works or other operations within the corporation."....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here