Stelco Inc. Reaches Five-Year Labour Agreements with Represented Employees

HAMILTON, Ontario--(BUSINESS WIRE)--Stelco Holdings Inc. (TSX: STLC) announced today that its wholly-owned subsidiary, Stelco Inc. (“Stelco” or “the Company”), has renewed five-year collective bargaining agreements with each of its United Steelworkers (“USW”) locals. Stelco employees represented by USW Local 1005 (Hamilton Works), USW Local 8782 (Lake Erie Works), and USW 8782b (Lake Erie Works Pickle Lines), have all voted in favour of agreements that expire on June 30, 2027.

The respective agreements were reached following extensive negotiations between the Company and each of the respective USW negotiating committees and will provide long-term stability for Stelco’s operations.

“We are pleased to have reached long-term, five-year agreements with our valued represented employees” stated Alan Kestenbaum, Executive Chairman and Chief Executive Officer. “These agreements will provide stability for our employees and their families and provide our customers and shareholders with confidence in Stelco’s ability to continue to deliver on its commitments. The inflationary environment we live in has been very difficult on our valued employees and, while it was not always easy, we believe we have worked together with the union leaders to reach a structure that protects both our workers and their families as well as the company during these unpredictable times. I look forward to working together with our union partners to keep Stelco as the leader of the North American steel industry.”

Specific details of the agreements were not disclosed by the Company.

About Stelco

Stelco is a low cost, integrated and independent steelmaker with one of the newest and most technologically advanced integrated steelmaking facilities in North America. Stelco produces flat-rolled value-added steels, including premium-quality coated, cold-rolled and hot-rolled steel products, as well as pig iron and metallurgical coke. With first-rate gauge, crown, and shape control, as well as uniform through-coil mechanical properties, our steel products are supplied to customers in the construction, automotive, energy, appliance, and pipe and tube industries across Canada and the United States as well as to a variety of steel service centres, which are distributors of steel products. At Stelco, we understand the importance of our business reflecting the communities we serve and are committed to diversity and inclusion as a core part of our workplace culture, in part, through active participation in the BlackNorth Initiative.