Posted in | News | Ferrous Alloys and Metals | Business | Iron and Steel

National/AK Steel Extend Deadline

Mar 11 2003

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In the ongoing battle to secure the assets of National Steel, AK Steel and National Steel have agreed to extend the deadline for AK Steel to finalise an agreement with the United Steelworkers of America (USWA).

One of the conditions of sale was that AK Steel had to finalise and execute a labour agreement with the USWA before March 17. If this was not achieved, either party had the option of pulling out of the deal. This date has now been pushed back to March 26th.

The collective bargaining agreement will affect the employees of National Steel who will become employees of AK Steel, should they purchase the assets of National Steel.

For more information on steel manufacture, click here.

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