An agreement has been reached between ArcelorMittal and the United Steelworkers (USW) Saturday over labor contracts.
ArcelorMittal announced it has reached a tentative agreement with the USW on a new, three-year labor contract covering nearly 14,000 USW-represented employees at 15 of ArcelorMittal USA's flat carbon, long carbon and iron ore mining locations.
The tentative agreement will cover Weirton workers as well. Large parts of the former Weirton Steel became available for sale earlier this year with several interested buyers. WTRF.com first reported ArcelorMittal is selling just about every piece of property the company sits on except the tin mill. Click here for more information on the initial sale of the steel plant.
The tentative agreement will replace the existing contract that was originally set to expire on Sept. 1, 2012 and remains subject to ratification by the USW membership.
President and Chief Executive Officer of ArcelorMittal USA, Michael Rippey, said the company is pleased an agreement could be met.
"We are pleased to have a new, tentative agreement with the USW and to have reached a fair and equitable outcome without disruption to our business operations," said Rippey. "We extend our appreciation to our employees, customers and the community for their patience and support during the negotiation process."
The USW informed members they would be getting details soon as well as dates and locations of informational meetings before a ratification vote. Union officials say the current contract, which expired Sept. 1, will be extended until then.
The USW had opted not to go on strike when negotiations had stalled with the steel giant last week.
According to The Associated Press, The union won wage increases and improved health care and maintained seniority rights and protections against the use of outside contractors.
The announcement comes shortly after the company's decision to back down on pension talks for workers hired after the Sept. 1 deadline. Click here for more information pertaining to U.S. workers' pensions.