MasTec Announces Withdrawal from Teamsters Central States Pension Plan
MasTec, Inc. (NYSE: MTZ) today announced that its wholly owned subsidiary, Precision Pipeline, LLC, along with other members of the Pipe Line Contractors Association, have fully withdrawn from the Central States Southeast and Southwest Areas Pension Fund multi-employer pension plan, effective November 15, 2011. In connection with the withdrawal, MasTec will record a one-time expense of $6.4 million in the fourth quarter of 2011 based on an estimate provided by the plan.
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