AK Steel Awards Supplier of the Year Honors

 

Middletown, OH, November 18, 2004—AK Steel (NYSE: AKS) has honored three of its suppliers for outstanding service, value and strategic support of the steelmaker’s business plan.   The awards, the first-ever presented by AK Steel, were announced today during a meeting in Middletown of representatives of the steelmaker’s largest 100 suppliers, based on the value of the commodities and services provided.  The suppliers attending represented approximately $2.25 billion in goods and services purchased annually by AK Steel.

The following companies were honored at today’s event:

  • Tube City, LLC, Glassport, PennsylvaniaTube City supplies scrap steel and scrap preparation services to several AK Steel plants.
  • T.W. Phillips Gas and Oil Company, Butler, Pennsylvania.  T.W. Phillips supplies natural gas to AK Steel’s Butler Works.
  • Universal Industrial Supply, Incorporated, Cincinnati, Ohio.  Universal supplies safety equipment and supplies to several AK Steel plants.  

During the meeting, James L. Wainscott, president and CEO of AK Steel, stressed the importance of long-term agreements with suppliers that make good business sense for both the supplier and AK Steel.

“We welcome with open arms and minds suppliers who will work with us to reduce our costs, improve our quality and reliability and maintain a healthy level of profitability, which benefits all the stakeholders in AK Steel,” said Mr. Wainscott. “With the help of strategic partners in the supply world, AK Steel will be even closer to its goal of achieving sustained profitability.”

Mr. Wainscott has previously identified long-term supplier agreements as one of three “key fixes” necessary for AK Steel to achieve its goal of achieving sustained profitability.

Headquartered in Middletown, Ohio, AK Steel produces flat-rolled carbon, stainless and electrical steel products for automotive, appliance, construction and manufacturing markets, as well as tubular steel products.