AK Steel Ashland Works Plant Facility Rolls Out Final Coil

SEATTLE (Scrap Monster): AK Steel announced that it has officially stopped production at the Ashland Works plant. The plant produced its final coil on November 11, thereby marking the end of operations of the integrated steel mill.

The Ashland Works facility had been idled for almost three years now, except for a single hot dip galvanizing coating line, with an estimated capacity of around 336,000 tonnes per year. The permanent closure of the coating line is expected to result in savings of more than $40 million per annum to the company. Meantime, the works from the line will be distributed to other AK Steel facilities.

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According to company press release, out of the 240 employees currently at the site, 184 operations employees will be having their final week at the mill. The remaining 76 maintenance employees will have 31^st December, 2019 as their last working day. The decision about planned closure of the plant towards end-2019 was informed to the employees in January 2019 itself.

In a related development, AK Steel announced that Jaime Vasquez, Vice President, Finance and Chief Financial Officer will retire effective November this year. Also, Christopher J. Ross, AK Steel Vice President and Treasurer, has been named Vice President, Treasurer and Interim Chief Financial Officer.