Eastern Railroad Discussion > AK Steel sold - May restart Ashland Ky furnace.

Date: 12/03/19 16:54
AK Steel sold - May restart Ashland Ky furnace.
Author: howeld

Cleveland-Cliffs buys AK Steel. Bigger news is a possible restart of the Ashland, Ky blast furnace as part of this deal. Ashland is served by CSX (and the Ohio river if CSX doesn’t want the traffic).

https://www.dailyindependent.com/news/update-on-cleveland-cliffs-ak-merger-ashland-works-furnace-restart/article_69b47cd2-15c8-11ea-a239-a768257df437.html

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Date: 12/03/19 17:36
Re: AK Steel sold - May restart Ashland Ky furnace.
Author: callum_out

What is amazing is that the AK market cap was under $1B, USX is only a little over $2.2B but Nucor is
the king at over $17B.

Out

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Date: 12/04/19 06:32
Re: AK Steel sold - May restart Ashland Ky furnace.
Author: bluesboyst

This is good news for that area. Why wouldn't CSX want that business..They can't be that stupid!!!!!

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Date: 12/04/19 12:05
Re: AK Steel sold - May restart Ashland Ky furnace.
Author: abyler

rantoul Wrote:
-------------------------------------------------------
> Buying a company and opening a mill 'to avoid
> shutdown costs' is not very compelling...buying a
> company and opening a mill 'to meet demand' would
> be compelling. Just another corporate shuffle.

There's plenty of demand if the price is right. At least 30 million tons of steel imports that can be replaced with domestic production.

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Eastern Railroad Discussion > AK Steel sold - May restart Ashland Ky furnace.