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AK CEO: New EPA regulations could hurt recovery

Jim Wainscott

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By Jessica Heffner, Staff Writer Updated 11:08 AM Friday, March 26, 2010

WEST CHESTER TWP. — The head of AK Steel Corp. told congressional and business leaders in Washington, D.C., that he believes the steel industry is making a recovery, but for that to continue the government must control new regulations that would hurt U.S. manufacturers.

Jim Wainscott, president, chairman and chief executive of AK Steel, testified Thursday, March 25, at the Congressional Steel Caucus hearing. He spoke on behalf of the American Iron and Steel Institute, of which he is chairman.

Among signs of a recovery in the steel marketing, Wainscott said the industry was operating at about 70 percent of capacity at the beginning of March, much higher during the same time frame a year ago when operations were about 41 percent nationwide.

With the road to recovery “full of potholes, with unemployment likely remaining very high for some time to come,” Wainscott said AISI members were encouraged by the Obama Administration’s Framework for Revitalizing American Manufacturing.

However, he believed the government could go further by focusing on other upcoming regulations which could have a negative impact. He specifically cited U.S. Environmental Protection Agency’s move to create new regulations on stationary sources of greenhouse gases, which Wainscott said would “impose massive new costs on our industry just as we attempt to recover.”

Members of Congress as well as other industry leaders discussed the state of the steel industry and how to revitalize the American economy during the caucus meeting, which was rescheduled to March due to a snowstorm in February. The caucus is a bipartisan group of 100 Congress members representing districts with steel manufacturers or have interest in the health of the American steel industry.

Contact this reporter at (513) 705-2843 or jheffner@coxohio.com.

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