AK Steel secures $375M financing for new Indiana plant

Evan Weese^[1]

Web coordinator- Business First

This email address is being protected from spambots. You need JavaScript enabled to view it.^[2]  | Google+^[3]  | Twitter^[4]  | LinkedIn^[5]

AK Steel has completed a $375 million financing deal to build its Indiana iron ore plant, expected to provide half of its annual iron ore requirements beginning in 2015, the Dayton Business Journal reports^[6].

The plant in Reynolds, Ind., a joint venture with Grand Rapids, Mich.-based Magnetation Inc., is under construction with a completion date about 18 months off.

Production from the pellet plant will supply West Chester-based AK Steel’s (NYSE:AKS) blast furnaces located in Ohio and Kentucky.

Morning Call is compiled from news reports originated by other media organizations and Columbus Business First staff.

Evan Weese is web coordinator for Business First.

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