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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Jan 26, 2005
Page
3
AK reports full year adjusted operating profit of 251.1 million or 40 per ton excluding the corridor charge, while 2003 shows an adjusted loss of 310.5 million or 53 per ton. Fourth quarter net sales reached 1.434 billion on 1,631,400 tons shipped, with a record 878 per ton selling price.
Analysts praise AK's progress in 2005 but flag two issues: an arbitration ruling on rehiring over 100 Middletown Works hourly workers and ongoing labor contract negotiations. Four plant contracts expire 2005–2006, Middletown’s 3000-worker federation contract ends February 28, 2006, while headcount cuts remain possible to curb costs.
The Ohio House is set to approve a 1.5 billion two year capital budget to fund construction and renovation of public schools colleges and universities. Miami University likely to receive the majority of Butler County funds with Warren and Preble counties also receiving allocations. The proposed plan includes 450000 for Warren County University Nixon Research Facility and 225000 for the Warren County Historical Society among others.
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