United Steelworkers Ratify Four-Year Contract with TimkenSteel

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Dec 01, 2017, 18:37 ET

CANTON, Ohio, Dec. 1, 2017 /PRNewswire/ -- The United Steelworkers (USW) Local 1123 members voted in favor of a new four-year contract with TimkenSteel today.

"For 100 years, TimkenSteel has been making some of the best steel in the world here in Stark County," said Bill Bryan, TimkenSteel's executive vice president of manufacturing & supply chain. "This contract ratification keeps our employees – many of whom are second- or third-generation steelworkers – earning some of the area's top wages and keeps our company competitive in manufacturing the world's best special bar quality steel. As we prepare for our 101^st year of operation in 2018, we are working together to deliver our customers the best we have to offer in terms of service, quality and innovation."

The contract, which is in effect until Sept. 27, 2021, offers TimkenSteel's Canton-based bargaining employees increases to permanent base wages every year, a signing bonus, 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.

SOURCE TimkenSteel Corporation