AK Steel Holding Corporation (AKS) announced that its Coshocton Works in Ohio has gained recognition for its excellent safety performance by the Ohio Bureau of Workers' Compensation, Division of Safety and Hygiene. AK Steel’s Coshocton Works won four awards for its performance.
The plant received the “100% Award for Safety" for performing successfully the full year of 2012 without any lost-time injuries or illnesses. It also got a "Special Award for Safety" for operating 1,126,942 man-hours without a lost-time injury between Aug 5, 2011, and Dec 31, 2012. The other awards won by Coshocton Works are "Group Safety Award" for having the lowest incident rate in the industrial group, and the "Safety Achievement Award" for reducing its lost-time injury rate by more than 25% over 2011.
The awards were conferred on Coshocton Works as a part of a joint safety awareness program established by the Coshocton County Safety Council and Chamber of Commerce. AK Steel demonstrated five times better safety performance than the steel industry average for full-year 2012.
AK Steel is a producer of flat-rolled carbon, stainless and electrical steel products for automotive, appliance, construction and manufacturing markets, as well as tubular steel products.
Last month, AK Steel released its first-quarter 2013 results. The Ohio-based company posted a net loss of $9.9 million (or 7 cents a share) in the quarter compared with a loss of $11.8 million (or 11 cents a share) a year-ago. The loss per share was narrower than the Zacks Consensus Estimate of a loss of 12 cents. AK Steel saw a decline in raw material costs, mainly for iron ore, coal, carbon scrap and coke, in the reported quarter.
Revenues fell 9.2% year over year to $1,369.8 million in the reported quarter due to lower shipments to carbon spot market and missed the Zacks Consensus Estimate of $1,403 million.
AK Steel currently holds a short-term Zacks Rank #3 (Hold).
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