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....
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