AK Steel unable to aid struggling automakers

Apr 22, 2014 | 02:50 PM | Michael Cowden

Tags  steel, automotive market, AK Steel, James L. Wainscott, Roger K. Newport, steel shortage, coated steel, cold-rolled steel hot-rolled steel

CHICAGO — AK Steel Corp. is booked nearly to capacity on coated and cold-rolled steel products and therefore has limited capacity to help automakers facing shutdowns due to steel shortages, the company’s top executive said.

The West Chester, Ohio-based steelmaker is "increasingly being approached" by automotive customers "who are short on supply and facing potential outages," AK Steel chairman, president and chief executive officer James L. Wainscott said during a conference call with analysts April 22.

"We are happy to help, but we are not really in the firefighting business," Wainscott said, noting that the company also had "few tons" to offer.

"Our interest is really longer term and strategic in nature. We want to be the supplier of choice to take over (that business) in the future," he said.....





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