Armco Steel Corporation

Armco Steel Corporation
Item# 1551

Armco Steel Corporation
Armco Steel dated back to 1900 when Cincinnatian George Verity founded the American Rolling Mill Company in Middletown. Plant manager John Tytus, whose family was in paper milling, adapted that rolling technique to making steel.

In 1948, the company name was changed to the Armco Steel Corporation. During the 1950s, 1960s and 1970s Armco embarked on an ill-fated diversification effort acquiring non-metallic composites and financial services business. During the 1980s, a severe recession in the energy, steel and insurance markets prompted Armco to sell assets, restructure operations and cut debt. Armco recorded losses of $4.5 billion from 1982-1984.

In 1989, Armco formed a joint venture with Japan's Kawasaki Steel Corporation to operate its flat-rolled steel business with plants in Middletown, Ohio, and Ashland, Kentucky. Five years later, the joint venture became the AK Steel Holding Company (shortly thereafter, Armco sold off their portion of the spinoff and once again became independent). In 1999, the process went full circle, when AK Steel acquired Armco.

Certificate: Debenture Bond, issued in the 1970s

Printer: Security-Columbian Bank Note Company

Dimensions: 8 (h) x 12 (w)

State: OH-Ohio

Subject Matter: Steel Companies

Vignette Topic(s): Male Subject | Stylized Modern | Hemispheres Featured

Condition: Vertical fold lines, punch hole cancels in signature areas and body and some toning and edge faults from age.

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