AK Steel (NYSE: AKS) reached a new milestone this month, marking 100 years of innovation at its research facility in Middletown, Ohio.
The company's predecessor, Armco, announced the creation of a research department on September 22, 1910. Since that time, AK Steel has been an industry leader in new product development, customer technical services and steelmaking process improvements.
"AK Steel has a proud heritage of research and innovation," said James L. Wainscott, Chairman, President and CEO of AK Steel. "Throughout historic eras of technological, regulatory and industrial changes in American history, AK Steel has held, and continues to hold, a leading position in the area of steelmaking research."
Among the products and processes developed by AK Steel throughout its history, the company pioneered the world's first continuous hot rolling sheet mill in the 1920's. Its trailblazing research also led to the development of various types of electrical steels used in power transmission and distribution equipment. And, the company helped revolutionize the automotive exhaust market in the 1990's with the introduction of specific types of aluminized stainless steels. Today, in addition to several other research projects, AK Steel is developing products that help its automotive customers design lighter, more fuel-efficient vehicles that maintain superior strength and safety performance.