TimkenSteel, United Steelworkers Reach Another Tentative Agreement for New Four-Year Contract
CANTON, Ohio, Nov. 22, 2017 /PRNewswire/ -- TimkenSteel and the United Steelworkers (USW) Local 1123 have reached a third tentative agreement on a four-year contract. The union will set and announce the date for its membership to vote on the tentative agreement.
"From the start of these contract discussions, we have worked with union leadership to convey the competitive pressures we continue to face, and to reach an agreement with those representatives that take into consideration today's marketplace while still giving our employees some of the best wages and benefits in Stark County," said Bill Bryan, TimkenSteel's executive vice president of manufacturing & supply chain. "Before casting their vote, our bargaining employees will have a chance to attend information sessions and understand in more detail the tentative agreement, which keeps TimkenSteel as one of the area's best places to work. In the meantime, we will continue to focus on serving our customers without interruption."
The tentative agreement provides increases to permanent base wages every year, a signing bonus if ratified, annual bonus opportunities, high-quality healthcare and retirement benefits for all members, and a continued focus on 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 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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