United Steelworkers Union Ratifies Deal with ArcelorMittal
29 Noviembre 2018 - 3:22PM
Noticias Dow Jones
By Patrick Thomas
The United Steelworkers union said Thursday its members voted to
ratify a four-year labor agreement with ArcelorMittal SA
(MT)covering 15,000 workers after several months of
negotiations.
The Steelworkers said the pact includes wage increases between
3% and 4% each year and a $4,000 ratification bonus. The union also
said the agreement includes improved benefits and bolsters existing
health-insurance benefits for active and retired steelworkers. The
contract covers steelworkers in 13 local unions at 14 mills in
Illinois, Indiana, Ohio, Pennsylvania and West Virginia. The two
sides had reached a tentative agreement earlier this month.
The Luxembourg-based ArcelorMittal and U.S. Steel Corp. (X),
which reached a similar agreement this year with the union, account
for 40% of U.S. production capacity of flat-rolled steel, which has
a range of uses including in automotive and construction
sector.
"After years of hard work and tremendous sacrifice to keep these
facilities running and the company viable while the domestic steel
industry languished through wave after wave of unfairly traded
imports, it is right and just for ArcelorMittal steelworkers to
share in the company's success now that the market has rebounded,"
USW International President Leo Gerard said in prepared
remarks.
Write to Patrick Thomas at patrick.thomas@wsj.com
(END) Dow Jones Newswires
November 29, 2018 16:07 ET (21:07 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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