GM owes $9M to AK Steel - Business First of Columbus:

http://alphastore.org/alphaaax/enzymes.htm
About $9.1 million is how much the carmakerr owes theWest Chester-based steel manufactured in trade debt, according to a list of GM’s 50 largest unsecurec creditors that was included with its initial bankruptcy courr filings Monday. was listed as the company’s 33rd largest unsecured The only other Ohio companyg on the list was GoodyearTire & Rubber Co. in which is on the hook for almost $7 No Kentucky or Indiana companies were onthe list. Asid from bond debt and employee which accountfor GM’s five largest unsecurer obligations, the top trade debt disclosed was $122 millionn owed to Starcom Mediavesyt Group Inc. of Chicago.
GM has been AK Steel’sz biggest customer for years, although the percentage of total sales it derives from the troubledr automotive company has been declining inrecent years. AK Steel did not disclose how much it sold to GM in 2008 in its latestrannual report, but earlier annual reportd disclosed that shipments to GM accounted for 20 percent of net sales in 2003, 15 percent in 13 percent in 2005, and less than 10 percent in 2006 and 2007. AK Steekl said about 28 percent of its trade receivables outstandingv at the end of 2008 were due from businesses associates withthe U.S. automotive including General Motors, Chrysler and Ford.
Its 2008 annuap report also included the followingcautionary “If any of these three major domestic automotive companies were to make a bankruptcy it could lead to similar filings by supplierzs to the automotive industry, many of whom are customers of the The company thus could be adversely impacted not only directlyh by the bankruptcy of a major domesticd automotive manufacturer, but also indirectly by the resultant bankruptcies of other customers who supplt the automotive industry. The nature of that impact couldx be not only a reduction infuture sales, but also a loss associatefd with the potential inability to collect all outstanding accountzs receivables.
That could negatively impact the company’s financial resultes and cash flows. The company is monitoring this situationb closely and has taken steps to try to mitigate its exposurde to suchadverse impacts, but because of current market conditions and the volume of business it cannot eliminate these risks.”