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AKS » Topics » Directors Approve $55 Million Electrical Steel Expansion Project

This excerpt taken from the AKS 8-K filed Oct 24, 2006.

Directors Approve $55 Million Electrical Steel Expansion Project

In light of continued strong demand for electrical steel products, the company announced Monday that its board of directors had approved a $55 million capital investment to further expand its electrical steel finishing capacity. Completion of projects at its Butler and Zanesville plants by mid-2008 will increase the company’s annual electrical steel production capacity by about 12 percent, to approximately 335,000 tons. The capital investment announced yesterday is in addition to a $14 million capital investment announced in April to increase electrical steel production at the Butler Works. That project is scheduled to be completed during the first quarter of 2007, and is included in the total of 335,000 tons of production capacity the company will have by mid-2008.

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