Esmark Inc. and its wholly owned steel services subsidiary, Esmark Steel Group, ratified an agreement with its labor union.
Esmark, based in Sewickley, recently announced that members of the United Steelworkers of America (USW) Local 1223 accepted and ratified a new four-year collective bargaining agreement with Esmark’s newly acquired Ohio Cold Rolling Company.
According to Esmark, 81 percent of eligible union members voted to accept and ratify the labor agreement, which was applauded by James P. Bouchard, chairman and chief executive officer of Esmark Inc.
“We’re very pleased that after months of negotiations the union members found the contract offer to provide for a strong wage, benefits and profit sharing package,” Bouchard said in a news release. “We thank them for their patience during the negotiation process, and also extend our thanks to USW District 1 Director Dave McCall and Local 1223 President Jerry Conners for their continued support and collaboration.”
Some of the key economic provisions of the collective bargaining agreement include wage increases over the term of the four-year agreement, comprehensive healthcare for workers and their families, financial contributions to the Steelworker Pension Fund, and participation in a Voluntary Employee Beneficiary Association (VEBA) Trust providing healthcare benefits for retired union workers.