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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) December 6, 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 December 6, 1999, issued
by AK Steel Holding Corporation (the "Company")to announce that it will
permanently close its Dover, Ohio plant on January 29, 2000. The plant
currently employs about 120 hourly and salaried employees, of whom approximately
35 are currently on layoff status.
AK Steel took over operation of the plant September 30, 1999 with the
acquisition of Armco Inc. The plant includes a carbon steel galvanizing line
that produces commodity-grade steel primarily for construction and distribution
markets. Prior to the merger, Armco made attempts to sell the facility without
success.
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 December 6, 1999
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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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Brenda S. Harmon
Secretary
Dated: December 6, 1999
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AK STEEL HOLDING CORPORATION
FORM 8-K
CURRENT REPORT
Exhibit Index
Exhibit No. Description Page
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(1) Press Release, dated December 6, 1999 5
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Exhibit 99.1
NEWS RELEASE
AK Steel to Permanently Close Dover, Ohio Plant
MIDDLETOWN, OH, December 6, 1999 -- AK Steel (NYSE: AKS) said today that it will
permanently close its Dover, Ohio plant on January 29, 2000. The plant
currently employs about 120 hourly and salaried employees, of whom approximately
35 are currently on layoff status.
AK Steel took over operation of the plant September 30, 1999 with the
acquisition of Armco Inc. The plant includes a carbon steel galvanizing line
that produces commodity-grade steel primarily for construction and distribution
markets. Prior to the merger, Armco made attempts to sell the facility without
success.
"Unfortunately, the Dover operation did not fit into the AK Steel product
line, and the plant has been hampered by years of financial losses," said
Richard M. Wardrop, Jr., chairman and chief executive officer of AK Steel.
AK Steel said the cost of incoming raw materials, primarily the cold-rolled
substrate used for coating, precluded the operation from being profitable. The
company said it would record a special charge of approximately $35 million, on a
pre-tax basis, in the fourth quarter of 1999 as a result of the shutdown. The
shutdown charges include employee severance costs and asset writedowns, and was
contemplated within the estimated $150 million to $175 million of one-time
charges the company previously said it might incur as a result of its merger
with Armco.
AK Steel produces flat-rolled carbon, stainless and electrical steel products
for automotive, appliance, construction and manufacturing markets, as well as
standard pipe and tubular steel products. AK Steel is headquartered in
Middletown, Ohio. It employs about 11,500 men and women in plants and offices
in Middletown, Coshocton, Mansfield, Warren and Zanesville, Ohio; Ashland,
Kentucky; Rockport, Indiana; and Butler, Sharon and Wheatland, Pennsylvania. AK
Steel also produces snow and ice control products, and operates a major
industrial park on the Houston, Texas ship channel. Additional information about
AK Steel is available on the company's web site at www.aksteel.com.
