MiddletownJournal.com

WEST CHESTER TWP. — A seventh class action lawsuit has been filed against eight U.S. steelmakers, including AK Steel Corp., regarding alleged price fixing.

Pa.-based Alco Industries filed suit Oct. 29 with the U.S. District Court of Northern Illinois, and seeks damages from the steelmakers for allegedly conspiring to fix, raise, maintain and stabilize the price at which steel products were sold in the United States between January 2005 and now.

Court officials said the filing will more than likely be combined with the other six almost identical suits that already have been filed in Illinois. Named as defendants in each of the suits are ArcelorMittal USA, U.S. Steel Corp., Nucor Corp., Gerdau Ameristeel, Steel Dynamics, AK Steel, SSAB Swedish Steel and Commercial Metals.

AK Steel officials have issued a statement with a 10Q filing with the U.S. Securities and Exchange Commission that it will contest the suit.

"Discovery has not yet commenced, and no trial date has been set. AK Holding intends to contest this matter vigorously," the statement said.

Beyond that statement, spokesman Alan McCoy said the company had no comment.

Nucor filed a similar statement with its 10Q SEC filing on Nov. 4, stating the claims "are without merit."

Alco Industries is an employee-owned corporation consisting of eight manufacturing companies located in the United States, Canada and the United Kingdom. The companies manufacture foundry equipment, commercial tanks and pressure vessels, bearing housings, tools and dies and electrical insulation materials.

Contact this reporter at (513) 705-2843 or jheffner@coxohio.com.