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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report(Date of earliest event reported) May 28, 1999
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AK STEEL HOLDING CORPORATION
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(Exact name of registrant as specified in its charter)
DELAWARE File No. 1-13696 31-1401455
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(State or other (Commission file number) (IRS employer
jurisdiction of identification
incorporation) number)
703 Curtis Street, Middletown, Ohio 45043
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (513) 425-5000
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Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
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Filed herewith is a copy of a Press Release, dated
May 28, 1999, issued by AK Steel Holding Corporation (the
"Company")to announce that the Company's stainless continuous
annealing and pickling line at the new Rockport Works has begun
operations a month ahead of schedule. The unit, which is designed
primarily to process 300 Series (chrome-nickel austenitic)
stainless steels, delivered its first coil May 21.
Item 7. Exhibit.
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(a) Financial Statements of business acquired:
Not applicable.
(b) Pro Forma financial information:
Not applicable.
(c) Exhibit:
(1) Press Release, dated May 28, 1999
2
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Signatures
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
AK STEEL HOLDING CORPORATION
/s/ Brenda S. Harmon
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Secretary
Dated: May 28, 1999
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AK STEEL HOLDING CORPORATION
FORM 8-K
CURRENT REPORT
Exhibit Index
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Exhibit No. Description Page
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1 Press Release, dated May 28, 1999 5
4
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EXHIBIT 1
NEWS RELEASE
AK Steel's Continuous Stainless Annealing & Pickling Line
Starts Up Early
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MIDDLETOWN, OH, May 28, 1999--AK Steel (NYSE: AKS) said today its
stainless continuous annealing and pickling line at the company's
new Rockport Works has begun operations a month ahead of schedule.
The unit, which is designed primarily to process 300 Series
(chrome-nickel austenitic) stainless steel, delivered its first
coil May 21.
"Most significant to the early start-up," said Richard M.
Wardrop, Jr., chairman and chief executive officer of AK Steel,
"is that beginning with the very first coil, the steel has been
processed with prime quality properties and is being shipped to
customers following cold rolling. AK Steel has again delivered
results better than expectations."
With the successful early start-up of the stainless continuous
annealing and pickling line, only a single unit under construction
remains to successfully complete the company's state-of-the-art
finishing complex. Plans for Rockport Works were announced in
November of 1996 and construction began in February of 1997.
A hot-dip galvanizing and galvannealing line was the first unit
to operate, with a start-up in June of 1998, three months ahead of
schedule. The continuous carbon/stainless cold mill began
operation in September of 1998, also three months ahead of
schedule. Hydrogen annealing facilities began operations in 1998
about four months early while a temper mill began operations in
January of 1999, two months ahead of schedule.
The Rockport Works continuous stainless annealing and pickling
line is one of the largest in the world. It incorporates a
furnace for annealing (softening), mechanical and chemical
processes for pickling (cleaning) and a skin-pass mill and tension
leveler for controlling shape. The mill can process flat-rolled
steel up to 60-inches wide and can deliver coils weighing 60 tons
each. The final operating unit under construction at Rockport
Works is another pickling line, which will primarily process
carbon steels. That line is scheduled to begin operations in
August of this year.
When fully operational, Rockport Works will allow AK Steel to
shift most of its production to value-added cold-rolled and coated
products. The company expects its value-added cold-rolled, coated
and stainless products to represent more than 90% of total
shipments by the end of the year 2000. By comparison, value-added
products accounted for 68% of AK Steel's total 1998 shipments.
AK Steel produces low-carbon and stainless flat-rolled steel
for automotive, appliance, construction and other industries. The
company employs about 5,800 people in plants and offices in
Middletown, Ashland, Kentucky and Rockport, Indiana.
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[FN]
This news release includes "forward-looking statements" within the
meaning of Section 21E of the Securities and Exchange Act of 1934.
In particular, all statements herein with respect to Rockport
Works, including without limitation those with respect to the
scheduled start-up of its major components, its production
capabilities and targeted performance levels and its anticipated
impact on the company's product mix are forward-looking
statements. Although management believes that the expectations
reflected in such forward-looking statements are reasonable, there
is no assurance that those expectations will prove to have been
correct. Important factors that could cause actual results to
differ from management's expectations include unanticipated
technical delays in the construction process and in the
installation of critical components and unexpected problems in
initiating operations, realizing targeted operating speeds and
achieving desired product specifications and consistency.
