updated: 9/4/2012 8:23:16 AM
The United Steelworkers union has reached a tentative three-year agreement with U.S. Steel Corp. (NYSE: X), which has plants in East Chicago, Gary and Portage. Our partners at The Times of Northwest Indiana report the union is still negotiating with ArcelorMittal, which has operations in Burns Harbor.
September 2, 2012
Pittsburgh, PA -- The United Steelworkers (USW) today said that the union has reached a tentative agreement on a three-year contract with U.S. Steel covering more than 16,000 workers at its US facilities.
The union and the steelmaker had been negotiating since June for a collective bargaining agreement. The previous contract expired on Saturday.
Members will vote on the agreement after they review the details over the next few weeks.
"Throughout the summer, USW members worked tirelessly to achieve an agreement that we believe is fair to both sides," said USW International President Leo W. Gerard. "We are proud of the work we have done to ensure a stable future for our members, our retirees and the company."
One of the most significant issues in this year's talks was health care for retirees, and how best to deal with the rising cost of that coverage.
"Both sides worked hard to come up with a solution that continues to provide our current and future retirees with access to high-quality, low-cost medical care," said USW International Vice President Tom Conway, who led the negotiations for the union.
The USW represents about 850,000 workers in the United States, Canada and the Caribbean in a wide variety of industries, ranging from glassmaking to mining, paper, steel, tire and rubber to the public sector, service and health care industries.
Source: United Steelworkers
September 2, 2012
PITTSBURGH, Sept. 2, 2012 /PRNewswire/ -- United States Steel Corporation (NYSE: X) today announced that its U. S. Steel Tubular Products, Inc. subsidiary reached a tentative agreement with the United Steelworkers (USW) on a successor three-year collective bargaining agreement covering approximately 1,000 USW-represented employees at U. S. Steel Tubular Products, Inc.'s Texas Operations Division, a welded tubular products facility in Lone Star, Texas. The tentative agreement remains subject to ratification.
Commenting on the announcement, U. S. Steel Chairman and Chief Executive Officer John P. Surma said, "We are pleased that a tentative agreement was reached with the United Steelworkers on a competitive three-year contract for our Texas Operations Division. We believe that this agreement is in the best interests of our company, our employees and all of our stakeholders."
Details about the tentative agreement will be made available after the ratification process is complete.
This release contains forward-looking statements with regard to a new labor agreement. The new labor agreement is subject to ratification by USW members. Future profitability and competitiveness are subject to numerous factors, many of which are beyond the control of U. S. Steel. In accordance with "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, cautionary statements identifying important factors, but not necessarily all factors, that could cause actual results to differ materially from those set forth in the forward-looking statements have been included in the Form 10-K of U. S. Steel for the year ended December 31, 2011, and in subsequent filings for U. S. Steel.
For more information about U. S. Steel, visit www.ussteel.com.
Source: United States Steel Corp.