AK Steel Corp. asks its unions for help

MIDDLETOWN, Ohio (AP) -- AK Steel Corp. says it needs help from its unions to stay competitive because pension and retiree health-care expenses account for $40 of each ton of steel sold, more than rival companies.
"That puts AK in an extraordinarily poor position," said Charles Bradford, a steel industry analyst with Bradford Research/Soleil Securities in New York City.
These expenses leave the company at a disadvantage to newer companies with lower costs and established steelmakers that dumped those costs by filing for bankruptcy, he said Monday.
AK Steel spokesman Alan McCoy said the company's expense is $25 to $30 more than competitors on average. The company says it does not plan to resort to bankruptcy reorganization.