CANTON, Ohio, Nov. 10, 2017 /PRNewswire/ -- TimkenSteel and the
United Steelworkers (USW) Local 1123 have reached a second
tentative agreement on a four-year contract. The union will set and
announce the date for its membership to vote on the tentative
agreement.
"We have continued to meet and work with union representatives
over the past few weeks to arrive at an agreement that benefits our
employees as well as our community," said Bill Bryan, TimkenSteel's executive vice
president of manufacturing & supply chain. "We remain focused
on upholding TimkenSteel's position as an employer of choice in
Stark County and keeping our
people working, while at the same time addressing the competitive
pressure we face as an independent steel company operating in a
global marketplace."
The tentative agreement provides increases to permanent base
wages every year, 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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SOURCE TimkenSteel Corporation