Current Performance : Our Business And Our Industry Are Facing Many Challenges

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Current Performance Our business and our industry are facing many challenges. Internally or externally, developing a strategy is not a one-time event, nor is it limited to just a certain set of initiatives. Instead, it is a collective set of actions to achieve the ultimate goal of improving our profitability. Parts of the strategy must and will remain flexible. In just the last 18 months imports rose dramatically, market prices for many commodities fell abruptly, the energy market declined substantially, steel pricing came under severe pressure due to imports, the automotive market experienced a record year, and three flat rolled carbon steel trade cases were filed. Moving forward we will; continue to develop innovative new products…show more content…
While import levels have begun to decline from many of the countries where preliminary duties are being levied, we still face ongoing import pressures. The impact of imports played a key role in our difficult decision to idle our Ashland Works hot end, resulting in the lay-off of nearly 600 of our hard working employees. In the midst of this challenging landscape, AK Steel is focused on; controlling things within our control, improving our product and market mix to optimize our returns, investing in our high-end growth products, reviewing every asset, every product, every market, and developing new and exciting products and processes. Mission Statement A world class steel producer, AK specializes in flat-rolled carbon, stainless and electrical steel. With a proud past that spans more than 100 years, AK Steel continues to build off the key values of safety, quality and productivity. Our ethical standards are demonstrated through the character and integrity of each employee, from our skilled craftsman to each executive officer. AK Steel is committed to providing each customer a high quality product with excellent service. Having the best interest of each stakeholder, AK Steel’s corporate citizenship is dedicated to maintaining an honest relationship while striving to achieve excellence each day. Providing the world’s most demanding customers, AK Steel’s product line continues to be unmatched by our competitors. Through leading edge
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