Members of Local 1123, which represents workers at TimkenSteel's Canton, Ohio, USA, facilities, approved the new contract on a 1,086-247 vote. The contract was ratified Friday and expires in September 2021.

"This contract ratification keeps our employees – many of whom are second- or third-generation steelworkers – earning some of the area's top wages and keeps our company competitive in manufacturing the world's best special bar quality steel," said Bill Bryan, TimkenSteel's executive vice president of manufacturing and supply chain.

 "As we prepare for our 101st year of operation in 2018, we are working together to deliver our customers the best we have to offer in terms of service, quality and innovation."

The ratification comes after union rank-and-file rejected two previous tentative agreements reached in October and November. The union’s bargaining team had said TimkenSteel was calling the third tentative agreement its last, best and final offer.

According to the company, the agreement provides for wage increases in each year of the deal; a signing bonus and incentives; and healthcare and retirement benefits that it described as high quality.