AK Steel has received a “Deal Maker of the Year” award from the Association for Corporate Growth (ACG) for the company’s $690 million acquisition of Severstal Dearborn, LLC. The award was presented at the ACG Cincinnati chapter’s annual awards event held on May 13, 2015. ACG presented awards in five categories. AK Steel and The Kroger Company were award winners in the category for corporations with over $1 billion in annual revenues.
AK Steel acquired the Dearborn integrated steelmaking operations located in Dearborn, Michigan in September 2014. The deal also included the acquisition of the Mountain State Carbon cokemaking facility in Follansbee, West Virginia and ownership in three joint ventures that finish flat rolled carbon steel products.
Separately, in February 2015, AK Steel announced plans to build a new $36 million world-class Research and Innovation Center in Middletown, Ohio. The new Research and Innovation Center will be located in the Cincinnati – Dayton growth corridor along Interstate 75. Groundbreaking for that facility is planned for late in the second quarter of 2015.