AK Steel Completes Purchase of Severstal Dearborn

AK Steel announced today the completion of the $707 million purchase of Severstal Dearborn, which includes a cokemaking facility and interest in three joint venture steel processing facilities. The mill will be renamed “Dearborn Works.”

“At AK Steel, the future is now, and the future is bright, as our acquisition of Dearborn Works makes us a larger, stronger and more flexible company,” said James L. Wainscott, Chairman, President and CEO of AK Steel. “The acquisition is transformational to AK Steel, and it combines much more than the operational assets of two outstanding companies. It combines great employees who will strengthen a terrific company that is better able to compete, and to win, in the global steel marketplace.”