Metallus to purchase group annuity contract for pension benefits

Canton, ohio , may 20, 2024 /prnewswire/ -- metallus inc. (nyse: mtus), a leader in high-quality specialty metals, manufactured components and supply chain solutions, on may 15, 2024, entered into an agreement to purchase a group annuity contract from the prudential insurance company of america ("prudential") in connection with the termination of the timkensteel corporation retirement plan (the "salaried pension plan"). the salaried pension plan termination settles approximately $121 million of the company's remaining u.s. pension obligations.
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