AK Steel in tentative deal with union |
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Fri, 16 Feb 2007 21:40
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MIDDLETOWN, Ohio (AP) - AK Steel said Friday it has reached a tentative three-year contract agreement with about 380 production and maintenance employees at the steelmaker's Coshocton operations in eastern Ohio.If ratified by United Auto Workers Local 3462 on Feb. 23, the contract will go into effect when the current contract expires April 1. It will remain in effect until March 31, 2010.The deal serves the interests of the company in an increasingly competitive environment, said James Wainscott, chairman, president and chief executive.AK Steel locked out its 2,500 production and maintenance workers in Middletown, about 30 miles north of Cincinnati, nearly a year ago when their contract expired. The company has been operating the mill with replacement workers and salaried personnel.Terms of the tentative contract with the Coshocton workers were not released. A message seeking comment was left at Local 3462.AK Steel makes flat-rolled carbon steel and stainless and electrical steel used in cars, appliances and other products. Its headquarters and largest mill are in Middletown, with smaller plants in Mansfield, Zanesville and Coshocton, Ohio; Ashland, Ky.; Rockport, Ind.; and Butler, Pa.AK Steel shares rose 10 cents to $22.56 in afternoon trading on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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AK Steel inks tentative deal with union 