AK Steel’s board of directors had approved a capital investment to increase production capacity for high quality, grain-oriented electrical sheet steels by about 12 percent. The $55 million expansion project is aimed at helping AK Steel meet continued strong market demand for electrical steel products used in electrical generation and transmission markets. The newly approved capital funds will be used to upgrade and modify existing production equipment at the company's Butler, Pa., and Zanesville, Ohio, facilities.
In April, AK Steel announced a $14 million capital investment to increase electrical steel production capacity at its Butler Works. That project should be completed early next year.
With the expansion at the two mills, along with the earlier announced expansion, AK Steel's production capacity for electrical steel products will increase to about 335,000 tons per year by the middle of 2008.
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