U. S. Steel Canada Announces Ratification of New Collective Bargaining Agreement for Lake Erie Plant Employees
HAMILTON, Ontario, April 15 /PRNewswire-FirstCall/ -- U. S. Steel Canada Inc., a wholly owned subsidiary of United States Steel Corporation (NYSE: X), announced today that United Steelworkers (USW) Local Union 8782 has ratified a new three-year labor contract for employees at U. S. Steel Canada Inc.'s Lake Erie Plant.
"We are pleased that the Lake Erie Plant employees represented by United Steelworkers Local Union 8782 have ratified a new three-year contract," said U. S. Steel Canada President David J. Rintoul. "The agreement addresses issues of importance to both the union and the company. Most significantly, the agreement mitigates the issue of the underfunded defined benefit pension plan by closing that plan to new entrants. This important step will significantly improve the long-term competitiveness and sustainability of the Lake Erie Plant relative to the rest of the North American steel industry. We look forward to restarting the operations at the Lake Erie Plant expeditiously, consistent with the status of the facilities and, as always, the safety of our employees and the protection of the environment."
For more information about U. S. Steel Canada, visit www.ussteelcanada.com.
SOURCE U. S. Steel Canada Inc.