AK Steel jumped 27 positions on the Fortune 500 this year, claiming the 351st spot on the magazine's annual list of America's largest corporations. The company had been ranked 378 on last year's list.
The Fortune 500 list also ranked AK Steel fifth in revenue for 2007 among all U.S. metals producers. The company was also listed among the fastest-growing companies in profits for the year 2007.
“AK Steel's record performance in 2007 reflects our steadfast commitment to our customers, and our ongoing efforts to achieve long-term, sustained profitability,” said James L. Wainscott, AK Steel Chairman, President and CEO. “I congratulate, and thank, all of our employees for their contributions to the company's success.”
In addition to its Fortune 500 ranking, AK Steel was listed among Fortune magazine's "America's Most Admired Companies" in 2008, receiving a number-one ranking in the metals sector for product quality and use of corporate assets.
AK Steel was also listed among CNNMoney.com's Top 10 Best Performing Fortune 500 stocks for the year 2007, claiming the number-two spot with its 174% gain in value for 2007. AK Steel also received Cincy magazine's MANNY award in 2008 for excellence in manufacturing.
AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for automotive, appliance, construction and electrical power generation and distribution markets. The company employs about 6,500 men and women in Middletown, Mansfield, Coshocton, and Zanesville, Ohio; Butler, Pa.; Ashland, Ky.; Rockport, Ind.; and its corporate headquarters in West Chester, Ohio.
AK Tube LLC, a wholly owned subsidiary of AK Steel, employs about 300 men and women in plants in Walbridge, Ohio and Columbus, Indiana. AK Tube produces carbon and stainless electric resistance welded (ERW) tubular steel products for truck, automotive and other markets.