AK Steel stock on rise, plus 3 more things to know about steelmaker

10:34 a.m. Wednesday, May 24, 2017 West Chester & Liberty Twp
AK Steel’s Research and Innovation Center in Middletown. GREG LYNCH / STAFF

Here are four things to know about AK Steel, which is Butler County’s third largest employer, with approximately 2,400 full-time employees at its Middletown Works and corporate headquarters in West Chester Twp.

1. The market is looking up for the steel producer today

Shares of AK Steel are on the rise this morning, going from $6.06 a share at the opening of the market this morning to $6.24 as of 9:49 a.m.

That’s a 3.48 percent increase.

2. A ruling said alleged hazardous conditions ‘did not exist’

The Occupational Safety and Health Administration, or OSHA, in a recent letter to AK Steel, detailed a complaint it received regarding alleged hazards, including “welders have no certification to weld or pressure pipes, structures, railings, etc.” and “no welding logs are being kept for certifications purposes.” A subsequent mandated investigation included the gathering and reviewing welding certifications issued over the last 10 years and led OSHA to close the case on the matter.

RELATED: OSHA: Hazardous condition alleged at AK Steel site ‘did not exist’

3. The company recently scored a major deal

AK Steel has accepted an award of up to $1.8 million from the U.S. Department of Energy under the Advanced Manufacturing Office’s Next Generation Electric Machines program to develop the next generation of advanced, non-oriented electrical steels for motors used in a wide variety of industrial and automotive applications, including hybrid electric vehicles

RELATED: AK Steel gets $1.8M award to develop next generation electrical steels

4. AK Steel’s CEO nabbed ‘Steelmaker of the Year’ honors

AK Steel CEO Roger Newport on May 9 received an award for Steelmaker of the Year from the Association for Iron & Steel Technology, or AIST.

Newport was recognized for his “strategic and dynamic leadership at AK Steel, engaging and empowering employees to drive innovation, quality, safety, environmental stewardship, and productivity,” according to AIST.

RELATED: AK Steel CEO named Steelmaker of the Year

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