Sunday, March 18, 2007
AK Steel could be target
Contract settlement might allow company to be more competitive but increase chance of takeover
Ohio.com
The end of a lockout that lasted nearly 13 months at its Middletown Works plant gave AK Steel Holding Corp. a labor contract it hopes will make the company more competitive in the global steel industry, but it remains unclear whether the company can sustain its goal of avoiding a takeover.
AK capped its pension and health-care costs and won the right to completely restructure its work force, eliminating a minimum limit on the number of employees and reducing about 1,000 job classifications to seven.
Ohio.com
The end of a lockout that lasted nearly 13 months at its Middletown Works plant gave AK Steel Holding Corp. a labor contract it hopes will make the company more competitive in the global steel industry, but it remains unclear whether the company can sustain its goal of avoiding a takeover.
AK capped its pension and health-care costs and won the right to completely restructure its work force, eliminating a minimum limit on the number of employees and reducing about 1,000 job classifications to seven.
Labels: steel
