CANTON, Ohio, Nov. 16, 2017 /PRNewswire/ -- TimkenSteel
employees who are members of the United Steelworkers (USW) Local
1123 have failed to ratify a second tentative agreement between
their bargaining representatives and the company.
"We're extremely disappointed because both the company and the
union returned to the bargaining table a few weeks ago and once
again worked hard to arrive at a fair and realistic agreement
focused on benefitting our employees and the community," said
Bill Bryan, TimkenSteel's executive
vice president of manufacturing and supply chain. "The agreement,
which was voted down despite recommendation from the union's
bargaining committee, offered our employees the ability to continue
to earn some of the best wages and benefits packages in
Stark County, while allowing
TimkenSteel to stand stronger against the significant competitive
pressures the company faces as an independent steel producer in
today's global marketplace."
The tentative agreement that was not ratified in today's vote
offered TimkenSteel's Canton-based
bargaining employees annual increases to base wages as well as
competitive and flexible healthcare and retirement benefits for all
members, and it supported 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 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