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Timken and USW Local 1123 Enter Early Contract Discussions
09/27/2011 - The Timken Company and United Steelworkers of America Local 1123 have agreed to enter early discussions about the current labor agreement.
The Timken Company and United Steelworkers of America Local 1123 have agreed to enter early discussions about the current labor agreement.
The contract, which expires in September 2013, covers employees represented by the U.S.W. in Canton, Ohio.
Timken launched preliminary discussions with the union, as well as suppliers and government officials, in order to determine whether there is a suitable path forward by year end regarding the company’s recently announced consideration of a possible $225 million investment at its Canton-based Faircrest Steel Plant. The proposed improvements would increase capacity, expand product range and strengthen competitiveness. Timken officials indicated that they would move forward with the plan provided that the operating environment is conducive to such a financial commitment.
The company noted that it will reserve further comment until discussions are complete, although periodic updates will be posted on www.timken.com/agreement.
The Timken Company supplies innovative friction management and power transmission products and services that help machinery perform more efficiently and reliably. The company employs 20,000 people operating from locations in 30 countries, and reported sales of $4.1 billion in 2010.
