TimkenSteel, United Steelworkers Sign Tentative Deal For New Four-Year Contract

(RTTNews) - TimkenSteel Corp. (TMST), a provider of tailored steel products and services, announced Wednesday that it has reached a third tentative agreement with the United Steelworkers or USW Local 1123 on a four-year contract.

The union will set and announce the date for its membership to vote on the tentative agreement.

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

The tentative agreement provides increases to permanent base wages every year, a signing bonus if ratified, annual bonus opportunities, high-quality healthcare and retirement benefits for all members, and a continued focus on safety and employee wellbeing.

Bill Bryan, TimkenSteel's executive vice president of manufacturing & supply chain, said, "From the start of these contract discussions, we have worked with union leadership to convey the competitive pressures we continue to face, and to reach an agreement with those representatives that take into consideration today's marketplace while still giving our employees some of the best wages and benefits in Stark County."