Algoma Steel said Wednesday it has agreed to a new collective agreement with United Steelworkers Local 2724, the union representing technical, professional and frontline supervisory employees.
The current contract expires July 31. Ratification votes for the tentative agreement are scheduled for July 21-25. Algoma said it won't release details until after the union has held its information meetings with members.
“We are pleased that we have reached a tentative agreement with our salaried union local that provides an economic package that is acceptable to both parties and sets out the process to transition the workforce to electric arc steelmaking," Algoma president and CEO Michael Garcia is quoted as saying in a news release.
"We look forward to continuing our work together as we navigate Algoma’s transformation, positioning the company for a secure, sustainable future as a leading producer of green steel.”
Based in Sault Ste. Marie, Algoma is a key supplier of steel products to customers in Canada and mid-west U.S. and is the only producer of plate steel products in Canada. The company’s mill is one of the lowest cost producers of hot rolled sheet steel in North America.
With a current raw steel production capacity of an estimated 2.8 million tons per year, Algoma’s serves the automotive, construction, energy, defence and manufacturing sectors.
Discussions are ongoing between the company and the hourly employees represented by USW Local 2251, the release said.
"The company looks forward to reaching an agreement before the contract expires on July 31 … ensuring the continuation of the company’s forward momentum."
