AK Steel to Make Early Contribution to Pension Trust Fund
07/24/2008 - AK Steel will make an early $75-million contribution to its pension trust fund.
AK Steel’s board of directors has authorized the company to make an early $75-million contribution to its pension trust fund.
The company said it would make the contribution during the third quarter. The contribution will help to further reduce the company's future funding requirements.
Following the contribution, AK Steel will have made $834 million in pension fund contributions since January of 2005.
AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for automotive, appliance, construction and electrical power generation and distribution markets. The company employs about 6500 men and women in Middletown, Mansfield, Coshocton and Zanesville, Ohio; Butler, Pa.; Ashland, Ky.; Rockport, Ind.; and its corporate headquarters in West Chester, Ohio.
AK Tube LLC, a wholly owned subsidiary of AK Steel, employs about 300 men and women in plants in Walbridge, Ohio, and Columbus, Ind. AK Tube produces carbon and stainless electric resistance welded (ERW) tubular steel products for truck, automotive and other markets.
