Financial Performance - The backlog of orders as of December 31, 2018, was approximately $343 million, an increase from $325 million at year-end 2017, with about 37% expected to be released after 2019[17]. Company Overview - Union Electric Steel Corporation is one of the largest producers of forged hardened steel rolls globally, servicing various industries including steel and aluminum production[7]. - The company has an equity interest in three joint ventures in China, including a 59.88% interest in Shanxi Åkers TISCO Roll Co. Ltd.[9]. - The Corporation's subsidiaries had 1,922 active employees as of December 31, 2018, with approximately 120 employees from ASW Steel Inc.[21]. Strategic Decisions - The sale of ASW Steel Inc. represents a strategic shift and has been accounted for as a discontinued operation[10]. Product and Market Information - The Corporation's products are custom-engineered and sold to sophisticated commercial and industrial users worldwide[14]. - The company does not rely on any single supplier for raw materials, which are generally available from multiple sources[15]. - The Corporation's operations face considerable competition based on quality, service, price, and delivery in both segments[19]. Environmental Considerations - Environmental control expenditures were not material in 2018 and are not expected to be significant in 2019[20]. Leadership - The Corporation's executive team includes J. Brett McBrayer as CEO since July 2018, with extensive experience in manufacturing and distribution[24].
Ampco-Pittsburgh(AP) - 2018 Q4 - Annual Report