AK Steel Completes Acquisition of Precision Partners Holding Company

WEST CHESTER, OH--(Marketwired - Aug 7, 2017) -  AK Steel (NYSE: AKS) announced today that it has completed its acquisition of Precision Partners Holding Company. Precision Partners is a leading North American provider of engineering, tooling and hot and cold stamped products, with a broad portfolio of highly engineered solutions. Headquartered in Ontario, the company employs more than 1,000 employees, including about 300 engineers and skilled tool makers, across eight plants in Ontario, Alabama and Kentucky.

Precision Partners specializes in tool and die engineering and the production of complex stamped components for the automotive industry. 

"We are extremely pleased with the existing successful platforms and business that Precision Partners brings to our company, and even more excited about how well this acquisition positions us to expand our capabilities to provide lightweighting solutions to our automotive customers," said Roger Newport, Chief Executive Officer of AK Steel. "This acquisition aligns well with AK Steel's long-term strategy and we believe it will play a key role in further strengthening the long-term performance of our company." 

This acquisition complements AK Steel's focus as a key provider to customers requiring the highest quality carbon, stainless and electrical steel products and tubular steel solutions. 

AK Steel
AK Steel is a leading producer of flat-rolled carbon, stainless and electrical steel products, primarily for the automotive, infrastructure and manufacturing, electrical power generation and distribution markets. Through its subsidiaries, the company also provides customer solutions through carbon and stainless steel tubing products, die design and tooling, and hot and cold stamping. Headquartered in West Chester, Ohio (Greater Cincinnati), the company employs approximately 9,400 men and women at manufacturing operations across seven states (Alabama, Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia), as well as Canada and Mexico. Additional information about AK Steel is available at www.aksteel.com.