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Universal Stainless Reaches Early Labor Agreement with Titusville Employees
Aug. 3, 2010 Universal Stainless & Alloy Products, Inc. has reached a new five-year collective bargaining agreement effective October 1, 2010, with the Titusville hourly employees represented by Local 7312-03 of the United Steelworkers.
The current contract with the hourly employees at the company's facility in Titusville, Pa., is scheduled to expire September 30, 2010.
"We believe the new contract is beneficial to our employees and is in the best interests of our customers and shareholders,” said President and CEO Dennis Oates. “The early agreement allows us to concentrate on growing the business. The new contract contains wage and benefit increases while maintaining the flexible work rule terms and profit sharing incentives contained in the prior agreement."
Universal Stainless & Alloy Products, Inc., headquartered in Bridgeville, Pa., manufactures and markets semi-finished and finished specialty steels, including stainless steel, tool steel, and other alloyed steels, in a variety of grades, widths, and gauges to customer specifications. Its products are sold to rerollers, forgers, service centers, original equipment manufacturers, and wire redrawers for use in industries such as aerospace, power generation, petrochemical, and heavy equipment manufacturing.