Latrobe Specialty Steel Offered 90-Day Contract Extension

Tag : Specialty Steel
Latrobe Specialty Steel Offered 90-Day Contract Extension
LATROBE, Pa., July 10 /PRNewswire/ -- Latrobe Specialty Steel regrets that the United Steelworkers begana labor dispute on May 1, 2008 when they decided to strike andrefused the company's offer to continue working under the 90-dayextension of the labor agreement. The company reiterates that offerat every bargaining session.
"Since May first, we have made several fair offers to the union inan effort to reach agreement. None of these offers have beenpresented to the union members for a vote. Despite this, wecontinue to bargain in good faith to reach an agreement. We thinkit's time that the union members get a chance to vote on theseoffers," said Hans J. Sack , President and Chief Executive Officer.
Latrobe Specialty Steel has demonstrated its commitment to theLatrobe community in many ways. The company invested approximately$60 million in the current expansion of its vacuum meltingfacility. This expansion is continuing on schedule. Historically,Latrobe Specialty Steel has avoided lay-offs or workforcereductions even in the face of bad economic times. The company is areliable participant in community affairs and local charities.
Latrobe Specialty Steel never sought bankruptcy protection duringtough times. It did not push its liabilities on employees,communities, government agencies or the Pension Benefit GuaranteeCorporation, as a number of its competitors have done. The USWrewarded these competitor companies with contracts providingsubstantially lower labor costs than Latrobe's.
Latrobe Specialty Steel's two-tier contract proposal addressesthose long-term competitive issues, is consistent with agreementsthe USW signed with Latrobe's competitors and does not impactcurrent employees. "Our two-tier offer is still substantially abovestarting wages of our competitors. New workers will receive marketcompetitive wages and benefits. Union statements to the contraryare not factual," explained Sack.
"Now that they all have returned from their conference in LasVegas, we are trying to schedule negotiating meetings for next weekwith the union committee," Hans Sack concluded.
Latrobe Specialty Steel Company, headquartered in Latrobe,Pennsylvania, manufactures and distributes precision-engineeredspecialty alloys for customers globally. Airframe and defensesystems manufacturers specify Latrobe's high-performance, vacuummelted and vacuum remelted alloys for many critical components. Inbusiness continuously since 1913, the company employs approximately900 people in ten locations throughout North America and Europe.Find additional information about Latrobe Specialty Steel at www.latrobesteel.com or contact Lisa Pierce at 724-532-6324 ( lisa.pierce@latrobesteel.com ).
SOURCE Latrobe Specialty Steel Company