USW Members at Veyance Technologies Ratify New Four-Year Contract

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Aug 13, 2012, 10:28 ET

PITTSBURGH, Aug. 13, 2012 /PRNewswire-USNewswire/ -- The United Steelworkers (USW) announced today that some 1,000 union-represented employees at Veyance Technologies, Inc. ratified a new four-year contract. The vote followed informational meetings and discussions by local members after negotiators reached a tentative agreement earlier in the month. The pact was ratified by more than a three-to-one margin.

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The settlement covers workers at four U.S. facilities located in Lincoln, Neb.; Marysville and St. Marys, Ohio; and Sun Prairie, Wis. Veyance is a spin-off of Goodyear's Engineered Products division. The contract will run through July 2016.

The new contract provides cost-of-living (COLA) wage increases and pension improvements as well as strengthening job security provisions. Reasonable benefit modifications were developed to contain rising healthcare costs, while still maintaining high-quality coverage.

"The vote indicated that our members saw that we maintained good, family-supporting jobs while making sure the company can still compete in the global marketplace," said Emil Ramirez, USW bargaining coordinator.

"Economic stability for both sides was the key to this agreement," said USW International Vice President Tom Conway, who oversaw the talks for the USW.

The USW represents about 850,000 workers in the United States, Canada and the Caribbean in a wide variety of industries, ranging from glassmaking to mining, paper, steel, tire and rubber to the public sector, service and health care industries.

CONTACT:
Wayne Ranick, 412-562-2444
[email protected]

SOURCE United Steelworkers (USW)