West Chester, OH, September 16, 2010—AK Steel (NYSE: AKS) today applauded the United States’ filing of a complaint against China for violating the rules of the World Trade Organization (WTO) in imposing antidumping and countervailing duties against imports of grain oriented electrical steel from the United States.
“The Chinese authorities conducted the investigation contrary to WTO rules,” said James L. Wainscott, chairman, president and CEO of AK Steel. “The resulting duties are unjustified, and we are pleased that they will be reviewed by a WTO dispute settlement panel if the matter cannot be resolved through government-to-government consultations.”
Mr. Wainscott added, “We appreciate the decision by United States Trade Representative Ron Kirk to pursue this WTO remedy. AK Steel will be fully supportive.”
In December 2009, China’s Ministry of Commerce (MOFCOM) imposed duties on imported electrical steel products. The tariffs total approximately 19.5% against AK Steel.
AK Steel is one of the largest and most technologically-advanced global producers of grain-oriented electrical steels, which are helping to meet the world’s growing demand for efficient electricity generation, transmission and distribution.
About AK Steel
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 6,200 men and women in Middletown, Mansfield, Coshocton and Zanesville, Ohio; Butler, Pennsylvania; Ashland, Kentucky; Rockport, Indiana; and its corporate headquarters in West Chester, Ohio. Additional information about AK Steel is available on the company’s web site at www.aksteel.com.
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. Additional information about AK Tube LLC is available on its web site at www.aktube.com.