Morgan Advanced Materials puts $36m into US pension scheme

Morgan Advanced Materials has elected to make an accelerated cash contribution of an additional $36m to its US defined benefit pension scheme in December, it announced on Monday. The FTSE 250 company said the US defined benefit pension scheme had a deficit under IAS19 at 30 June of around $46m, since when the funding position had improved due largely to positive returns on the asset portfolio. In recent years, the group said it contributed between $10m and $11m per annum to the schemes under a ...

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