CANTON, Ohio, Oct. 3, 2017 /PRNewswire/ -- TimkenSteel and
the United Steelworkers (USW) Local 1123 have reached a tentative
agreement for a new four-year contract and, in the coming week,
will finalize documentation of a formal agreement for presentation
and ratification by the represented workforce. The date of the vote
will be set and announced by the union.
"We have reached an agreement that ensures our employees
continue to earn some of the best wages in the region and in the
steel industry nationally," said Bill
Bryan, TimkenSteel's executive vice president of
manufacturing & supply chain. "We're working together both to
address the significant competitive pressures we face from global
steel overcapacity and to keep our people working."
The tentative agreement provides increases to permanent base
wages every year, competitive healthcare and retirement benefits
for all members, and a continued focus on operating safety and
employee wellbeing.
The USW Local 1123 represents approximately 1,650 employees at
the company's facilities in Canton,
Ohio.
Additional information can be found at
www.timkensteel.com/agreement.
About TimkenSteel Corporation
TimkenSteel (NYSE:TMST, timkensteel.com) creates tailored steel
products and services for demanding applications, helping customers
push the bounds of what's possible within their industries. The
company reaches around the world in its customers' products and
leads North America in large alloy
steel bars (up to 16 inches in diameter) and seamless mechanical
tubing made of its special bar quality (SBQ) steel, as well as
supply chain and steel services. TimkenSteel operates warehouses
and sales offices in five countries and has made all of its steel
in America for 100 years. The company posted sales of $870 million in 2016. Follow us on Twitter
@TimkenSteel and on Instagram.
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SOURCE TimkenSteel