Feb. 26, 2007 — Members of the United Autoworkers (UAW) Local 3462 have ratified a new three-year labor agreement at AK Steel's Coshocton, Ohio, Works.

AK Steel said UAW officials informed the company that the new contract had passed overwhelmingly in voting held Friday in Coshocton. The new contract covers about 380 hourly production and maintenance employees.

"We are pleased that UAW Local 3462 members have ratified a new agreement that provides competitive wages and benefits, while enabling Coshocton Works to continue serving customers with world-class productivity and the highest quality products," said James L. Wainscott, Chairman, President and CEO of AK Steel.

AK Steel said the new Coshocton Works contract includes competitive wage increases and a signing bonus, and improved flexibility utilizing maintenance operators. The contract also includes, among other provisions, a competitive company contribution to employees' 401(k) retirement accounts, and active and retired employee healthcare premium cost-sharing

AK Steel and the UAW bargaining teams had agreed to begin early talks on January 16, and the parties reached a tentative agreement on February 15. The new agreement will be in effect from March 1, 2007 through March 31, 2010, and replaces an agreement that would have expired April 1.

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 company's Coshocton Works processes flat-rolled specialty stainless products for a variety of end uses, including automotive, appliance, food processing, cutlery and other markets.

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