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AK Steel's Coshocton Works Honored for Superb Safety Show
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AK Steel Holding Corporation declared that it has been honored for excellent safety performance by the Ohio Bureau of Workers' Compensation, Division of Safety and Hygiene. The acknowledgement is part of a collaborative safety awareness program set up by the Coshocton County Safety Council and Chamber of Commerce.
AK Steel's Coshocton Works secured the "100% Award for Safety" for operating full-year 2015 without any lost-time injuries or illnesses. The plant operated 1,456,367 hours without a lost-time injury between Apr 23, 2014 and Dec 31, 2015, and thus received a "Special Award for Safety".
Coshocton Works received an Achievement Award for lowering its incident rate by at least 25% from a year ago. It also secured the "Group Safety Award" for having the lowest incident rate in the industrial group. AK Steel's company-wide safety performance again led the steel industry by a wide margin for 2015.
AK Steel remains affected by global overcapacity in steel and cheap products from China. However, the company aims to provide competitive pricing even in the current economic environment. Price increases in the spot market for various steel products have been observed of late.
Although AK Steel has reduced its exposure to the spot market, the hike should improve profitability in the segment as well as provide better prices in future contracts. Momentum in the company’s main consumer market, the auto sector, continues as the industry experts expect light vehicle production to increase 3% in 2016 from the 2015 level. This is expected to support demand for its value-added products in this key market. The company has also developed a unique product in partnership with NanoSteel Company, with high future potential.
AK Steel currently has a Zacks Rank #3 (Hold).
Some better-ranked companies in the steel space include Ryerson Holding Corporation (RYI - Free Report) , ArcelorMittal (MT - Free Report) and POSCO (PKX - Free Report) . While Ryerson Holding sports a Zacks Rank #1 (Strong Buy), both ArcelorMittal and POSCO carry a Zacks Rank #2 (Buy).
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AK Steel's Coshocton Works Honored for Superb Safety Show
AK Steel Holding Corporation declared that it has been honored for excellent safety performance by the Ohio Bureau of Workers' Compensation, Division of Safety and Hygiene. The acknowledgement is part of a collaborative safety awareness program set up by the Coshocton County Safety Council and Chamber of Commerce.
AK Steel's Coshocton Works secured the "100% Award for Safety" for operating full-year 2015 without any lost-time injuries or illnesses. The plant operated 1,456,367 hours without a lost-time injury between Apr 23, 2014 and Dec 31, 2015, and thus received a "Special Award for Safety".
Coshocton Works received an Achievement Award for lowering its incident rate by at least 25% from a year ago. It also secured the "Group Safety Award" for having the lowest incident rate in the industrial group. AK Steel's company-wide safety performance again led the steel industry by a wide margin for 2015.
AK Steel remains affected by global overcapacity in steel and cheap products from China. However, the company aims to provide competitive pricing even in the current economic environment. Price increases in the spot market for various steel products have been observed of late.
Although AK Steel has reduced its exposure to the spot market, the hike should improve profitability in the segment as well as provide better prices in future contracts. Momentum in the company’s main consumer market, the auto sector, continues as the industry experts expect light vehicle production to increase 3% in 2016 from the 2015 level. This is expected to support demand for its value-added products in this key market. The company has also developed a unique product in partnership with NanoSteel Company, with high future potential.
AK Steel currently has a Zacks Rank #3 (Hold).
Some better-ranked companies in the steel space include Ryerson Holding Corporation (RYI - Free Report) , ArcelorMittal (MT - Free Report) and POSCO (PKX - Free Report) . While Ryerson Holding sports a Zacks Rank #1 (Strong Buy), both ArcelorMittal and POSCO carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>