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Union Local Says It Will Get Behind U. S. Steel Canada Sale
11/23/2016 - A United Steelworkers union local said it will lend tentative support to a private investment firm’s bid to acquire U. S. Steel Canada, reports the CBC.
According to the CBC, United Steelworkers Local 8782, which represents employees at the steelmaker’s Lake Erie Works, signed a “letter of intent” to move ahead with sale-related discussions.
However, the CBC reported that there are some “hefty” labor matters that remain unresolved, particularly those tied to pensions and retiree medical benefits. It also noted that there was no equivalent announcement from the Steelworkers local representing employees at U. S. Steel Canada's Hamilton Works.
U. S. Steel Canada has been operating under creditor protection for two years, but is working toward an agreement to be sold to New York’s Bedrock Industries. Earlier this month, United States Steel Corp. announced that it had agreed to the terms of the proposed sale.
The CBC has the full story here.
However, the CBC reported that there are some “hefty” labor matters that remain unresolved, particularly those tied to pensions and retiree medical benefits. It also noted that there was no equivalent announcement from the Steelworkers local representing employees at U. S. Steel Canada's Hamilton Works.
U. S. Steel Canada has been operating under creditor protection for two years, but is working toward an agreement to be sold to New York’s Bedrock Industries. Earlier this month, United States Steel Corp. announced that it had agreed to the terms of the proposed sale.
The CBC has the full story here.
