Steel Mills
AK Steel Middletown Workers Ratify Contract
Written by Sandy Williams
March 13, 2018
AK Steel members of the International Association of Machinists and Aerospace Workers (IAM) Local 1943 have ratified a two-year labor agreement covering about 1,730 hourly employees at the company’s Middletown, Ohio, facility. The new agreement will be effective March 15, 2018, through March 15, 2020.
Union officials hoped to reach an agreement for a four-year contract, but were unable to reach a consensus with AK Steel on terms.
“With this in mind, the parties have agreed to a two-year contract,” said union officials in a summary for members. “This will allow any developments with the steel industry, tariffs, and the economy to gain momentum.”
Employees will receive a $2,500 lump sum payment within 10 days of ratification. Terms include a wage increase of $0.75 per hour. Pension contributions by the company will increase $0.10 per hour as of Jan. 1, 2020, to a new rate of $3.20 per hour.
Health insurance will remain at 90/10 coinsurance, with the addition of a $100 deductible for single plans and $200 deductible for family plans that will take effect in 2019. Employees will also have the option for a Health Savings Account.
“We are pleased to have reached an agreement at Middletown Works ahead of the expiration date,” said Roger K. Newport, Chief Executive Officer of AK Steel. “The new agreement provides a competitive labor contract that advances the interests of our employees and the company.”
Middletown Works is an integrated steel operation with carbon steel melting, casting, hot and cold rolling, and finishing operations to produce a number of carbon and stainless steels for the automotive sector.
Sandy Williams
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