AK Steel named to S&P 500
AK Steel has been added to Standard and Poor's S&P 500 GICS (Global Industry Classification Standard) Steel Sub-Industry index.
"Being added to the S&P 500 is a proud milestone in the complete transformation of AK Steel since the fall of 2003," said James L. Wainscott, AK Steel chairman, president, and CEO. "It reflects our ongoing efforts to create shareholder value by striving to continuously exceed our customers' expectations."
Since Mr. Wainscott was appointed president and CEO in the fall of 2003, the company's stock has risen from less than $2 per share at that time to more than $70 per share earlier this month.
In addition to the S&P 500, the company recently was added to the list of world-class steelmakers by World Steel Dynamics, a leading steel industry information service. The company also is listed among FORTUNEmagazine's "America's Most Admired Companies," receiving a number-one ranking in the metals sector for product quality and use of corporate assets for the year 2007.