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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SOURCE TimkenSteel Corporation