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AK Steel
UAW Members Ratify Contract at Rockport Works
Jul. 10, 2007 Members of the United Auto Workers (UAW), Local 3044, have ratified a new six-year labor agreement at AK Steel's Rockport (IN) Works. The new contract covers about 190 hourly production employees.
UAW officials notified the company that the new contract was ratified in voting held on July 5th and 6th in Rockport. "We are delighted that members of UAW Local 3044 have ratified a new, competitive labor agreement that will help Rockport Works continue to serve our valued customers with outstanding quality and productivity," said James L. Wainscott, Chairman, President and CEO of AK Steel.
AK Steel said that, among various provisions, the new contract at Rockport Works includes competitive wage increases, lump-sum payments, continued cost-sharing for employee healthcare, and improved contributions to a 401(k) defined-contribution retirement plan. Covered employees will also receive a signing bonus for early ratification.
The existing agreement would have run out September 30, 2007. The parties had commenced early bargaining in order to reach a new contract prior to expiration of the existing agreement, and had reached a tentative agreement on June 28, 2007.
"We are especially pleased that the new contract is in place well ahead of the expiration date of the previous agreement," said Wainscott.
The new agreement takes effect August 1, 2007 and runs through September 30, 2013.
AK Steel produces flat-rolled carbon, stainless and electrical steel products, as well as carbon and stainless tubular steel products, for automotive, appliance, construction and manufacturing markets. The Rockport Works processes flat-rolled carbon and stainless products for a wide variety of end uses, including automotive and appliance markets.