AK Acquires Majority Interest in Facility

AK Steel Corp. has acquired a 60 percent interest in a Cleveland, Ohio, flat-rolled steel electrogalvanizing facility. AK and International Steel Group Inc. have formed a partnership in which AK acquired the interest. ISG owns the remaining 40 percent interest in the plant -- which will be named AK-ISG Steel Coating Co. -- and will operate it. The plant was formerly owned by L-S Electro-Galvanizing Co.

The partnership provides AK with an additional 300,000 tons of coated products each year. It also makes AK the largest supplier of electrogalvanized flat-rolled steel in the nation, said Richard Wardrop, AK chairman, chief executive officer and president, in a statement.

"The line produces outstanding quality with excellent productivity," Wardrop said.