AK Steel to Make Early Pension Trust Fund Contribution
04/23/2008 - AK Steel’s Board of Directors authorizes the company to make an early $75 million contribution to its pension trust fund, which is expected to fulfill the company’s funding requirement for 2008.
AK Steel’s Board of Directors has authorized the company to make an early $75 million contribution to its pension trust fund.
The contribution will be made during the second quarter, and is expected to fulfill the company's funding requirement for 2008. The company had announced a similar early payment this January.
Following the contribution, AK Steel will have made more than $750 million in pension fund contributions since 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 6,500 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.
