SEATTLE (Scrap Monster): Algoma Steel Group Inc. announced that it has reached a tentative agreement for a new labour contract with United Steelworkers (“USW”) Local 2724, the union that represents the technical, professional and front-line supervisory employees of the company.
The five-day ratification period commenced on 21st July and will end on 25th. Further details of the agreement were not available as the company plans to publish the same only after the conclusion of informal meetings by the Union. It must be noted that the current collective agreement is due to expire on 31st July this year.
According to company press release, it is in discussions with the hourly employees represented by USW Local 2251 and that it is hopeful of reaching an agreement before the contract expires on July 31, 2022.
Commenting on the outcome, Michael Garcia, President and Chief Executive Officer, Algoma said that the new labour contract provides an economic package that is acceptable to both parties. The company will set out the process to transition the workforce to electric arc steelmaking. He expressed immense pleasure in arriving at a tentative agreement with its salaried union local.
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