Steel Mills
July 31, 2018
Production Disruptions Temper Q2 Results for AK Steel
Written by Sandy Williams
AK Steel earnings slipped a bit in the second quarter due to production disruptions at two of its facilities. Net income totaled $56 million, down from $77.2 million a year ago. Results were impacted by $11.5 million in operational costs associated with a power outage at Butler Works and a fire at the temper mill at Middletown Works. AK Steel estimates the loss of 60,000 tons of production as a result of the two incidents.
The fire at Middletown Works spread from the temper mill to operating stations causing extensive damage to wiring. The temper mill is still under repair and is expected to resume operation in late September. AK Steel has been using its other temper mills to provide cold roll and electrogalvanized substrate to its customers.
