Noranda Aluminum Holding Corporation (NYSE: NOR) announced that on Friday, September 7, 2012, United Steelworkers (“USW”) members at its aluminum smelter in New Madrid, Missouri ratified a new five-year contract. The contract covers approximately 80% of the workforce in New Madrid.
“We deeply value our New Madrid employees, their families, and the community,” said Layle K. “Kip” Smith, Noranda’s President and Chief Executive Officer. “We celebrate this new labor agreement because it reflects the commitment to New Madrid’s success demonstrated by the USW and Noranda negotiating teams. It achieves Noranda’s goals of rewarding employees for their hard work, making the plant a safer place, and accomplishing changes that are needed for Noranda to be sustainable for the future.”
Noranda previously announced an agreement with the USW to extend the New Madrid collective bargaining agreement to September 7, 2012, in order to allow local USW leadership to bring Noranda’s proposed contract to a vote by local union membership. Prior to that extension, the collective bargaining agreement was set to expire on August 31, 2012.
About the CompanyNoranda Aluminum Holding Corporation is a leading North American integrated producer of value-added primary aluminum products, as well as high quality rolled aluminum coils. Noranda is a public company affiliated with its private equity sponsor.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts