Steel Mills
July 22, 2014
AK Steel Announces Severstal Dearborn Purchase for $700 Million
Written by John Packard
AK Steel has announced that it will acquire the Severstal Dearborn a cokemaking facility and three joint ventures from OAO Severstal for $700 million. Here is the AK Steel press release:
West Chester, OH, July 21, 2014—AK Steel (NYSE: AKS) said today that it has signed an agreement to acquire Severstal North America’s integrated steelmaking assets located in Dearborn, Michigan for $700 million in cash. The acquisition also includes a cokemaking facility and interests in three joint ventures that process flat-rolled steel products.
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