Armco Steel Corporation
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Product Details
Company
Armco Steel Corporation
Certificate Type
Debenture Bond
Date Issued
September 9, 1976 (tan)
December 16, 1975 (brown)
Canceled
Yes
Printer
Security-Columbian Bank Note Company
Signatures
Machine printed
Approximate Size
12" (w) by 8" (h)
Images
Show the exact certificate you will receive
Guaranteed Authentic
Yes
Additional Details
NA
Historical Context
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.
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Additional Information
Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied. All items offered are collectible in nature only. So, you can frame them, but you can't cash them in!
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