ATI Employees Complete Ratification of New Four-Year Agreement

Rhea-AI Summary

On July 14, 2021, Allegheny Technologies Incorporated (NYSE: ATI) announced the ratification of a new four-year labor agreement with the United Steelworkers, effectively ending a strike that began on March 30, 2021. Employees are set to return to work the week of July 19, 2021, with production gradually ramping up. The agreement benefits around 1,300 employees with competitive wages and healthcare benefits, securing long-term viability for ATI's Specialty Rolled Products business. Executive Kim Fields emphasized that the deal supports employees while ensuring business stability.

Positive

• Employees ratified a new four-year labor agreement with competitive wages and benefits.
• The agreement enhances long-term viability for ATI's Specialty Rolled Products business.
• Employees will return to work on July 19, 2021, supporting a quick ramp-up in production.

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• None.

PITTSBURGH, July 14, 2021 /PRNewswire/ -- Allegheny Technologies Incorporated (NYSE: ATI) announced its employees have ratified a new four-year labor agreement with the United Steelworkers, ending the strike that began March 30, 2021. As part of an orderly return to work process, employees will begin returning to active employment the week of July 19, 2021, with production ramping in the weeks ahead.

"We look forward to resuming operations with our employees in place, working safely to deliver our commitments to customers," said Kim Fields, executive vice president of Advanced Alloys & Solutions and High Performance Materials & Components. "We appreciate the efforts of our salaried workforce and the temporary replacement workers who helped maintain operations during the work stoppage, enabling us to meet our customers' needs and protecting the business during the strike."

The new agreement delivers a competitive wage and benefit package to approximately 1,300 represented employees, covering the term from March 1, 2021 – February 28, 2025. "This contract achieves the objectives we shared from the beginning," said Fields. "It rewards our employees for the important contributions they make to ATI's overall success, with wage increases and continued excellent, affordable health care. At the same time, it secures the controls we need to reduce our exposure to health care cost inflation, which is critical for the long-term viability of ATI's Specialty Rolled Products business.

"This agreement is a good outcome for our employees, shareholders, customers and communities. Together, we can now focus our efforts on working to build a better future for our company," said Fields.

Solving the World's Challenges through Materials Science

ATI (NYSE: ATI) is a $3 billion global manufacturer solving the world's most difficult challenges through materials science; advanced, integrated process technologies; and relentlessly innovative people. We serve customers whose demanding applications need to fly higher, dig deeper, stand stronger, and last longer— anywhere on, above, or below the earth. We partner to create new specialty materials in forms that deliver ultimate performance and long-term value in applications like jet engine forgings and 3D-printed aerospace components. We produce powders for forging and additive manufacturing; rolled materials, and finished components. Our specialty materials withstand extremes of temperature, stress and corrosion to improve and protect human lives every day.  Learn more at ATIMetals.com.

 

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SOURCE Allegheny Technologies