Tuesday, June 7, 2011

AK Steel (AKS) Fined by Osha for Safety Record Violations

AK Steel (NYSE:AKS) has been fined by the Occupational Safety and Health Administration (OSHA) for alleged record-keeping violations associated with hearing problems related to work at its western Pennsylvania-based Butler Works facility. The fine is for $206,000.

Osha inspectors claim AK Steel was in willful violation four times and was guilty 6 times of violations of a lesser nature.

From 2007 to 2010, AK Steel is charged with not properly documenting the results of hearing tests which supposedly revealed employees from the company suffered from losses related to work.

AK Steel has 15 days to comply with the conclusions, contest the ruling and fine, or request a conference with the government agency.

AK Steel closed Monday at $14.41, falling $0.58, or 3.87 percent.

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