AKS » Topics » AK Steel To Make Early $75 Million Pension Trust Fund Contribution

This excerpt taken from the AKS 8-K filed Jan 22, 2007.

AK Steel To Make Early $75 Million Pension Trust Fund Contribution

MIDDLETOWN, OH, January 22, 2007 — AK Steel (NYSE: AKS) said that its board of directors has authorized the company to make an early $75 million contribution to its pension trust fund. Following this early contribution, which will be made during the 2007 first quarter, AK Steel will have made $434 million in early and voluntary pension fund contributions in the last two years.

“Funding our retiree pension obligation continues to be among the highest of our corporate priorities,” said James L. Wainscott, chairman, president and CEO. “We are extremely proud that we have been able to continue to fund our retiree health care and pension costs, especially in light of the fact that most of our steel industry competitors have reduced or eliminated their legacy obligations through the bankruptcy process.”

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.

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This excerpt taken from the AKS 8-K filed Oct 23, 2006.

AK Steel To Make Early $75 Million Pension Trust Fund Contribution

MIDDLETOWN, OH, October 23, 2006 — AK Steel (NYSE: AKS) said that its board of directors has authorized the company to make an early $75 million contribution to its pension trust fund. Following this early contribution, which will be made during the 2006 fourth quarter, AK Steel will have made nearly $360 million in early and voluntary pension fund contributions in the last two years.

“AK Steel’s board of directors remains committed to funding our pension legacy obligation for the 32,000 retirees, and their beneficiaries, who served this company for many years,” said James L. Wainscott, chairman, president and CEO.

The company said that while it has continued to fund retiree health care and pension legacy costs, most of its steel industry competitors have reduced or eliminated their legacy obligations through the bankruptcy process.

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.

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This excerpt taken from the AKS 8-K filed May 19, 2006.

AK Steel To Make Early $84 Million Pension Trust Fund Contribution

MIDDLETOWN, OH, May 19, 2006 — AK Steel (NYSE: AKS) said that its board of directors has authorized the company to make an $84 million contribution to its pension trust fund months ahead of schedule. The company said it would make its full required 2006 pension contribution next week, more than five months before the final due date. AK Steel’s previous pension contribution was a voluntary $150 million contribution made in January of 2005.

“AK Steel is proud to continue honoring a retiree tradition unique in the steel industry,” said James L. Wainscott, chairman, president and CEO. “In more than half a century, this company has not missed a pension fund contribution, nor a payment to any of its 32,000 pensioners.”

AK Steel provides pension benefits to approximately 32,000 retirees and/or their beneficiaries. The company said that while it has continued to fund its retiree health care and pension legacy costs, most of its competitors have reduced or eliminated their legacy obligations through the bankruptcy process.

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.

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