AK Steel announced Monday that they will invest $55 million to expand production capacity for high quality, grain-oriented electrical sheet steels by approximately 12 percent.
The increased production capacity will help AK Steel meet the strong market demand for electrical steel products used in electrical generation and transmission markets.
The capital funds will be used to upgrade and modify existing production equipment at AK Steel's Butler, Penn. and Zanesville, Ohio facilities.
In April of this year, AK Steel announced a $14 million capital investment to increase electrical steel production capacity at its Butler Works, which is planned for completion in the first quarter of 2007.
In combination with today’s announced investment, AK Steel’s production capacity for electrical steel products will increase to approximately 335,000 tons annually by the middle of 2008.
AK Steel, headquartered in Middletown, Ohio, produces flat-rolled carbon, stainless and electrical steel products, as well as carbon and stainless tubular steel products, for the automotive, appliance, construction and manufacturing markets.