United States Steel
Corporation X and its U. S. Steel Tubular Products, Inc. subsidiary
today announced that its United Steelworkers-represented employees have
ratified new three-year collective bargaining agreements. One agreement
covers approximately 16,000 employees at U. S. Steel's domestic flat-rolled
and iron ore mining facilities as well as tubular operations in Lorain, Ohio,
and Fairfield, Ala. The second agreement covers approximately 1,000 employees
at U. S. Steel Tubular Products, Inc.'s Texas Operations Division, a welded
tubular products facility in Lone Star, Texas.
Commenting on the announcement, U. S. Steel Chairman and Chief Executive
Officer John P. Surma said, "U. S. Steel is pleased with the outcome of the
ratification vote. We believe that this newly approved and competitive
three-year agreement is in the best interests of our company, our employees
and all of our stakeholders."
The agreements, which are effective retroactive to Sept. 1, contain no-strike
provisions and expire on Sept. 1, 2015. Employees will receive a lump sum
payment of $2,000 by Oct. 15, 2012, a 2 percent wage increase effective Sept.
1, 2013, a lump sum payment of $500 effective April 1, 2014, and a 2.5 percent
wage increase effective Jan. 1, 2015. The agreements also provide for certain
benefit adjustments for current and future retirees and modifications to the
profit sharing plan beginning in 2013.
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