U. S. Steel Serbia and Labor Unions Reach Agreement
U. S. Steel Serbia d.o.o., a wholly owned subsidiary of United States Steel Corporation (NYSE: X), announced today that it has reached a progressive new agreement with the representative labor unions of the company's steel production facilities and sister companies. Details of the three-year Individual Collective Agreement were not provided; however, it includes an increase in the base hourly wage and a commitment by management to resolve the status of employees in four Sartid companies that were not purchased by U. S. Steel Balkan d.o.o., the parent company of U. S. Steel Serbia and a wholly owned subsidiary of U. S. Steel. In recognition of the historic first agreement, U. S. Steel Serbia will pay a signing bonus to all current employees, and a phased restart of operations will begin this week.
"This historic agreement marks the beginning of a new era in the Serbian steel sector and a promising future for cooperative relations between U. S. Steel Serbia and its employees," said Thomas Kelly, vice president and managing director of U. S. Steel Serbia. "It will provide U. S. Steel Serbia with the stability and security necessary to improve the company's competitive position in European and global steel markets."
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SOURCE: United States Steel Corporation
CONTACT: John Armstrong, +1-412-433-6792, or Mike Dixon,
Web site: http://www.ussteel.com/
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