AK Steel Holding Corporation (AKS - Analyst Report) announced that the members of the United Auto Workers (“UAW”), Local 4104, have given their consent for a new four-year labor agreement which revolves around 140 hourly production and maintenance employees at the company’s Zanesville (OH) Works unit. This agreement, slated to be effective May 20, 2015, will run through May 31, 2019.
According to UAW officials, the new labor agreement was approved through voting, held in Zanesville on May 7, 2015. Per management at AK Steel, this new agreement will continue to provide a competitive and flexible labor contract for the company and its Zanesville employees.
AK Steel reported wider loss of $306.3 million or $1.72 per share in first-quarter 2015 compared with a loss of $86.1 million or 63 cents per share in the year-ago quarter. Results were hurt by unfairly traded steel imports which significantly impacted shipments and selling prices.
Revenues rose 26.6% year over year to $1,750.9 million in the reported quarter. Average selling price decreased roughly 9% year over year to $999 per ton. The decline was due to the combined effects of lower carbon steel spot market selling prices and higher proportion of hot-rolled coil shipments in the overall sales mix following the Dearborn acquisition.
Source: Zacks
- metaljunction »
- Metal News
Metal News & Events
METALJUNCTION PUBLICATIONS
Coal Insights (English) Monthly
Coal Insights is a ready reckoner for anyone associated with coal. This publication is aimed at tracking everything related to coal in India.
India Coal Market Watch(English) Monthly
ICMW is a one-stop source for all news, data and research pertaining to coal demand, consumption, stocks, spot- and long-term prices with respect to the Indian Market.
India Steel Market Watch (English) Monthly
ISMW is a brand new high-end steel market report, covering all aspects of the steel industry in India.
Steel Insights(English) Monthly
Steel Insights delves into various facets of the domestic and global steel industry such as market fundamentals, raw material price trends, price forecasts etc.