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US Steel and United Steelworkers on Monday signed a four-year interim agreement on the labor contract, ending months of negotiations and the looming threat of a work stoppage.
The contract covers the local unions of Minntac (Mountain Iron) and Keetac (Keewatin), both owned and operated by US Steel.
"It was a very good deal," said John Arbogast, president of Local 1938, who has been with Minntac for more than two decades. "I think the presidents are very happy, but it's up to the members. It's one of the two best contracts I've seen in 25 years. "
Arbogast said the deal involved significant wage increases and protected the health care of active retirees. The details of the contract have not been made available. Locals 1938 and 2660 will meet with members on Wednesday to provide details before the ratification vote.
"We are delighted to have reached an agreement in principle with USW, which we consider fair and in the best long-term interest of our employees and their families, as well as customers, shareholders and shareholders." other stakeholders of US Steel, "said David B. Burritt. , president and chief executive officer of US Steel, in a statement. "Together, we have agreed on conditions that will create certainty and stability for our many stakeholders, enable our company to implement our long-term business strategy, which includes ongoing and responsible investments in our teams and plants, and position US Steel to stay in place. a leader in the highly competitive global steel industry. "
Monday's agreement represents a complete dynamic change since the beginning of September, when Steelworkers voted to authorize the strike at US facilities. At that time, the company was offering a seven-year contract with more expensive health care for active members and retirees, as well as a 1% salary increase in recent years.
As the steel industry prospered through import tariffs, Steelworkers were determined to receive healthy wage increases from companies in 2018. During the 2015 contract negotiations, the union accepted a contract. of three years and no increase slowdown of the year.
With the agreement of US Steel, she joins Cleveland-Cliffs as the second steel company in the Iron Range chain to get along with USW under new conditions. Cliffs reached an agreement in principle at the end of September, which was ratified last week.
Steelworkers and ArcelorMittal remain in negotiations, where the union has also authorized a strike.
"After almost four months of extremely tough fighting, where I come from, I am very proud of what we have accomplished," said Arbogast. "We were able to protect our fixed income retirees and lead the way. It's huge. "
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