AK Steel to save $100M in pension costs

Aug 11, 2014 | 05:04 PM | Nat Rudarakanchana

Tags  AK Steel, pensions, Highway and Transportation Funding Act, transportation, infrastructure, James L. Wainscott, steel, Nat Rudarakanchana

NEW YORK — AK Steel Corp. expects to save $100 million over the next two years in reduced pension fund obligations due to legislative tweaks within the recently passed federal Highway and Transportation Funding Act.

The West Chester, Ohio-based steelmaker’s pension contributions will fall by $65 million in 2015 and by $35 million in 2016 thanks to the legislation, which is chiefly geared to protecting transportation and infrastructure funding (amm.com, Aug. 1). ....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results