AK Steel Middletown Workers Ratify Contract

“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.