Tentative Agreement Between TimkenSteel, United Steelworkers Voted Down

CANTON, Ohio, Oct. 20, 2017 /PRNewswire/ -- TimkenSteel employees who are members of the United Steelworkers (USW) Local 1123 have failed to ratify a tentative agreement between their bargaining representatives and the company.

"We're disappointed because both the company and the union worked hard to arrive at a fair agreement intended to benefit our customers, our employees and the community," said Bill Bryan, TimkenSteel's executive vice president of manufacturing & supply chain.  "We anticipate we will be back in discussions with the USW within the next few days."

The tentative agreement that was not ratified in today's vote offered TimkenSteel's Canton-based bargaining employees annual increases to base wages, competitive healthcare and retirement benefits for all members, as well as a continued focus on operating safety and employee wellbeing.

The USW Local 1123 represents approximately 1,650 employees at the company's facilities in Canton, Ohio.

Additional information can be found at www.timkensteel.com/agreement. 

About TimkenSteel Corporation TimkenSteel (NYSE: TMST, timkensteel.com) creates tailored steel products and services for demanding applications, helping customers push the bounds of what's possible within their industries. The company reaches around the world in its customers' products and leads North America in large alloy steel bars (up to 16 inches in diameter) and seamless mechanical tubing made of its special bar quality (SBQ) steel, as well as supply chain and steel services. TimkenSteel operates warehouses and sales offices in five countries and has made its steel in America for 100 years. The company posted sales of $870 million in 2016. Follow us on Twitter @TimkenSteel and on Instagram.

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SOURCE TimkenSteel Corporation