US - AK Steel Holding Corporation has posted a record net loss of US$430.6m in Q4 of 2008 - including a $699.5m non-cash charge related to the company's pension plan.
Last year the company posted a net income of $106.7m in Q4. Despite the Q4 pension charges AK Steel posted a net income of $4m for 2008, compared to $387.7m for 2007.
In addition, the company said its board of directors had authorized the company to make an early $50m contribution to its pension trust fund. The contribution will be made during the first quarter and will reduce the company's future funding requirements.
It added, following the contribution, AK Steel will have made $884m in pension fund contributions since January 2005.
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