AK Steel invests $71M in new R&D centre and production expansion
USA, Ohio: AK Steel has launched its new Research and Innovation Center in Middletown, Ohio, a $36 million investment which follows their last year’s $35 million expansion of the high-efficiency electrical steel production for the transformer and power distribution market.
The new $36 million facility is built near AK Steel’s Middletown works and its corporate headquarters in West Chester, and is aimed to help bring new steel products to the marketplace, the company said in a press release.
As part of the investment in innovation, the company has also expanded two works – in Michigan and Pennsylvania – to produce more high-efficiency electrical steels for the power transformer and power distribution market.
The Michigan expansion, completed in 2016, was a $35 million investment, according to the company.
Source: AK Steel