Feb. 19, 2007 — AK Steel and the United Auto Workers (UAW) have reached a tentative agreement on a new labor contract at the company's Coshocton (Ohio) Works.

Subject to ratification by Local 3462 members, the tentative agreement would cover about 380 hourly production and maintenance employees. The vote is expected to take place on February 23.

"We are pleased that we have reached a tentative agreement that serves the interests of the company and Local 3462 members in our increasingly competitive industry," said James L. Wainscott, Chairman, President and CEO of AK Steel.

The existing contract is set to expire April 1. If ratified, the new contract would be in effect until March 31, 2010.

Headquartered in Middletown, Ohio, AK Steel produces flat-rolled carbon, stainless and electrical steel products, as well as carbon and stainless tubular steel products, for automotive, appliance, construction and manufacturing markets. The Coshocton Works processes flat-rolled specialty stainless products for a wide variety of end uses, including automotive, appliance, food processing, cutlery and other markets.