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MAYTAG SETS PAY FREEZE

Maytag Corp., seeking to further cut costs, has frozen the pay for salaried workers and is asking for volunteers to quit their jobs in exchange for a separation package.

The strategy is intended to help offset rapidly rising prices for steel and petroleum-based resins used in manufacturing appliances.

The company saw steel prices double in 2004 and remain at historic highs, said CEO Ralph Hake, in a conference with analysts on Friday.

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