AK Steel plans to pare debt, make early contribution to pension trust
Oct 27, 2004 | 11:10 AM
| Scott Robertson
AK Steel plans to pare debt, make early contribution to pension trust AK Steel Corp., Middletown, Ohio, said Tuesday that based on its improved financial performance and cash position, its board has authorized the company to contribute $150 million to its pension trust fund.
The contribution will be made in January, well in advance of the next anticipated required pension funding of about $300 million due in 2006. The January payment will reduce the company's projected pension funding obligation by about 50 percent as well as lower its annual pension expense by about $13....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here