It went down to the wire and ultimately the contract agreed to came out of a mediator’s proposal as the best option for both Essar Steel Algoma and Local 2724 which represents the mill’s supervisory and technical staff. The proposal by the mediator was made to both parties on Friday morning after a number of last minute proposals had been made – some publically as we discuss further below.

Late on Saturday night Essar Steel Algoma announced Local 2724 had voted to accept the mediator’s proposal and there would be no work stoppage at the Canadian flat rolled steel producer. Here is a copy of the Essar Steel Algoma blog post from Saturday evening:

SAULT STE MARIE – ESSAR Steel Algoma Inc. announced today the Company and USW L2724, the union representing the Company’s technical, professional and front line management employees, have ratified a collective agreement. The new agreement comes into effect August 1, 2010 for a four year term.

This agreement allows for responsible monetary improvements recognizing the important role our employees play while providing for certain changes that the Company requires to be competitive.

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