AK Steel completes acquisition of Severstal Dearborn

AK Steel, West Chester, Ohio, has completed its acquisition of Severstal North America's integrated steelmaking assets located in Dearborn, Mich. The transaction also included a cokemaking facility and interests in three joint ventures that process flat-rolled steel products.

Dearborn Works produces hot- and cold-rolled sheet and hot-dip galvanized products, as well as other flat-rolled steel products, primarily for the automotive, construction, and appliance markets. In 2011 the plant underwent a $1.2 billion modernization and began operating a new pickle line tandem cold mill and a new hot-dip galvanizing line. Annual shipments from the plant are expected to exceed 7.5 million tons.

AK Steel said that it intends to utilize all of the production units at Dearborn Works, and the company has no plans to cease operations at any of its current steelmaking or steel finishing facilities.