AK Steel to Make Pension Trust Fund Contribution
04/22/2010 - AK Steel’s board of directors has authorized the company to make a $35 million contribution to its pension trust fund. The contribution will be made during the second quarter.
AK Steel’s board of directors has authorized the company to make a $35 million contribution to its pension trust fund. The contribution will be made during the second quarter.
Combined with a $75 million contribution that was made during the first quarter, the $35 million contribution will satisfy the company's pension funding obligation for 2010.
AK Steel's pension contributions since 2005 total more than $1.1 billion.
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 6200 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.
