Steel Mills

US Steel Contract Ratified
Written by Sandy Williams
February 2, 2016
USW members ratified a new three year contract with US Steel on Monday. The ratification passed by a 2-1 margin and will take effect immediately.
“I am extremely proud of the solidarity and the commitment to fairness that the Steelworkers showed throughout this process,” said USW International Vice President Tom Conway, who led the union’s bargaining committee. “These hard-working men and women were determined not to be made scapegoats for what is a global crisis.”
The new labor agreements covers 18,000 workers at US Steel’s domestic flat-rolled and iron ore mining facilities as well as tubular operations in Fairfield, Ala., Lorain, Ohio and Lone Star. Texas. The new contract keeps wages the same but increases the profit sharing percentage that will give employees higher payments once the company rebounds from the current steel crisis. Health care changes for employees and retirees were kept “modest” said the USW. Workers can expect slightly higher co-pays and deductibles in their health insurance coverage. The agreement is effective retroactive to Sept. 1 and contains no-strike provisions.
“The past year has been a difficult one for the steel industry, for USW members, and for manufacturing towns all across this country,” said USW International President Leo W. Gerard. “The key to weathering this crisis is not to attack each other, but to work together to find solutions to our common problems – namely the severe imbalance and unfairness in our trade system. This must be our shared goal as we move forward.”
US Steel posted a loss of nearly one billion dollars for fourth quarter due to challenges from high levels of illegally low-priced imports and declining demand from the oil and gas industry.
Mike Millsap, who serves as USW District 7 director and secretary of the bargaining committee, said the union looked forward to working with U.S. Steel to address the industry’s trade imbalance and to position the company and its work force for future success.
“We are pleased with the outcome of the ratification vote. We believe these three-year agreements are in the best interests of our company, our employees and all of our stakeholders,” said US Steel President and Chief Executive Officer Mario Longhi in a statement from the company.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

Nucor earnings slump in first quarter, but better times seen ahead
Nucor’s profits fell precipitously in the first quarter, but the company has a rosier outlook for the following quarter.

Nucor names Batterbee, Bledsoe to HR roles
Nucor Corp. has promoted Thomas J. Batterbee to the position EVP of human resources and talent and appointed Elizabeth Bledsoe to the newly created position of president of human resources and talent.

Millett sees tariffs, CORE case benefiting SDI
Steel Dynamics' top exec thinks Trump’s tariff policies, as well as the results from the recent CORE case, will prove advantageous to the Fort Wayne, Ind.-based steelmaker and aluminum company.

USW digs in on opposition to USS-Nippon deal
“We remain deeply concerned about the national and economic security implications of the subject transaction,” the union stated in the letter dated April 21.

SDI’s Q1 earnings slump on-year, but up sequentially
SDI earnings slip in first quarter year over year, but are up sequentially.