AK Steel (AKS) Announces Launch of New NEXMET Product Line

August 22, 2016 8:32 AM EDT

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AK Steel (NYSE: AKS) announced today it is launching NEXMETâ„¢, an innovative family of high strength steels for use in automotive lightweighting applications. These products are specifically designed to assist automotive original equipment manufacturers (OEMs) in meeting 2025 U.S. Corporate Average Fuel Economy (CAFE) targets.

AK Steel's NEXMET family of products will offer high strength, greater ductility (elongation), and improved formability solutions for a range of needs for structural and exterior automotive body lightweighting uses.

NEXMET 440EX is the company's first new steel to be launched in this family of products. This new exposed surface quality product combines high yield and tensile strength at thinner gauges to facilitate lightweight designs. This results in enhanced performance where surface appearance and dent resistance are critical. AK Steel's NEXMET 440EX is currently available and is being qualified by automotive OEMs as a steel solution for exposed body panel lightweighting needs.

"We are excited about the opportunities NEXMET 440EX offers automotive designers in their efforts to lightweight vehicles," said Roger K. Newport, Chief Executive Officer of AK Steel. "This product is yet another important part of AK Steel's strategy to offer innovative products for our customers."

AK Steel will launch its Next Generation Advanced High Strength Steel (AHSS) products, NEXMET 1000 and 1200 in early 2017, following completion of upgrades at AK Steel's Dearborn Works hot dip galvanized line. These AHSS steels will offer significantly improved ductility at tensile strengths of 1000 megapascal (MPa) and 1200 MPa, and will be used to help lightweight automotive body structures.

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