Steelworkers ratify new contracts |
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Mon, 05 Mar 2007 17:24
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PITTSBURGH (AP) - Members of the United Steelworkers union have ratified new four-year contracts with Allegheny Technologies for workers at its Allegheny Ludlum plants and its titanium operations in Albany, Ore., the union announced Friday.The labor agreements were approved 1,646 to 857 on Thursday in Pittsburgh, the union said.The contracts, which take effect July 1, cover 3,100 workers. Allegheny Ludlum operates 13 plants that make titanium, stainless steel, and other specialty metals, including nine in Pennsylvania and one each in Connecticut, Indiana, Massachusetts and Ohio. The contracts also cover workers in Oregon and New York, the union said.The current contracts expire June 30.According to the union, the contracts include pay raises, a $3,500 signing bonus, cash payments to retired union members and improvements to the current pension plan.Hourly maintenance and production workers will receive hourly wage increases of 75 cents in the first year and 60 cents in each of the following years, the union said. Also, a trust fund was created to protect existing and future retiree health care benefits to be paid for by profit-sharing payments of up to $20 million during the life of the contracts.'We are pleased with the results of the voting,' USW International Vice President Tom Conway said in a statement. 'It positions us to go forward in a good market.'A message left for Allegheny Technologies' spokesman after business hours Friday was not immediately returned.Allegheny Technologies shares fell 40 cents to $96.66 in Monday morning trading on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Union bargains for AK Steel contract 