“We are pleased to have reached an agreement at our AK Steel Middletown Works. The new agreement provides a competitive labor contract that advances the interests of our employees and the company,” Cliffs chairman and chief executive Lourenco Goncalves said in a statement.
Among other things, the agreement with Local 1943 of the International Association of Machinists and Aerospace Workers provides for a US$2.75 per hour pay increase over the life the contract. An overwhelming majority of union members voted to accept the contract, the union said.
The contract covers approximately 1,825 hourly employees and will run until 15 May 2023.