Armco Employees Independent Federation, Inc.
1100 Crawford Street Middletown, Ohio 45044
For Immediate Release
New York, NY, May 17, 2006 -- Representatives of the steel workers union at AK Steelís Middletown plant briefed Wall Street analysts on the unionís view of the extended lockout at Middletown.
The Armco Employees Independent Federation (AEIF) leaders told 12 analysts from 11 institutions that, in their view, the lockout was hurting AK Steelís performance. AEIF President Brian Daley provided information on the ongoing contract negotiations and the unionís observations on Middletownís operations.
Mr. Daley presented aerial video and photographs of the Middletown plant at various points since the lockout began showing reduced activity at the mill. Mr. Daley also discussed the impact of the lockout on operating costs, customer service, and accident and turnover rates, among other areas.
The AEIF provided exhibits on AKís highly competitive labor productivity rates as measured by tons shipped per employee and revenues per employee. Mr. Daley also presented a detailed summary of the AEIFís current contract proposal, with comparisons to AKís most recent proposal and contract terms at major competitors. Mr. Daley offered specific information as to the competitive nature of the AEIF proposal.
After a presentation and question-and-answer session, the AEIF leadership requested that analysts and shareholders contact the company with further questions to find out whatís happening at Middletown and its impact on company performance. AEIF also invited analysts and investors to come to Middletown to learn more about the lockout.
Brian Daley, President, AEIF