ATI And United Steelworkers Extend Labor Agreement To 2021

Allegheny Technologies Incorporated (NYSE: ATI) announced that it has extended for one year its labor agreement with the United Steelworkers (USW) covering over 1,300 employees at the Company's specialty and standard rolled products businesses and other...
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Allegheny Technologies Incorporated (ATI) - Get Report announced that it has extended for one year its labor agreement with the United Steelworkers (USW) covering over 1,300 employees at the Company's specialty and standard rolled products businesses and other locations. Under this contract extension, the language that governs employees' pay, benefits and work rules remain unchanged through February 28, 2021. As a show of good faith to resume negotiations toward a new contract next year, the Company will pay each covered employee a one-time $500 extension bonus.

"Together with the USW, we are extending the terms of our previous contract for one year," said Kimberly A. Fields, Executive Vice President of Advanced Alloys & Solutions. "This gives us stability in very challenging times so we may focus on the safety of our employees and our continued business operations.

"We believe this is the right solution for our employees and for our business, giving us the time needed to assess the economic conditions to negotiate a fair contract. We thank our employees for their continued commitment to working and operating safely, helping ATI deliver on our customer commitments."

The extension applies to approximately 1,300 employees covered by the master contract, working at nine locations: In Pennsylvania, Brackenridge, Latrobe, Natrona Heights, Vandergrift and Washington; as well as Lockport, New York; Louisville, Ohio; New Bedford, Massachusetts; and Waterbury, Connecticut. It also includes USW local 7150 in Albany, Oregon.

The previous contract expired February 29, 2020, with both parties continuing to work without interruption.

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ATI (ATI) - Get Report is a $4 billion global manufacturer solving the world's most difficult challenges through materials science; advanced, integrated process technologies; and relentlessly innovative people. We serve customers whose demanding applications need to fly higher, dig deeper, stand stronger, and last longer— anywhere on, above, or below the earth. We partner to create new specialty materials in forms that deliver ultimate performance and long-term value in applications like jet engine forgings and 3D-printed aerospace components. We produce powders for forging and additive manufacturing; rolled materials, and finished components. Our specialty materials withstand extremes of temperature, stress and corrosion to improve and protect human lives every day. Learn more at ATIMetals.com.

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