Algoma Steel announced it has reached a tentative agreement on a new contract with United Steelworkers (USW) Local 2724, representing its technical, professional and front-line supervisory employees. The current contract expires July 31.
The local is one of two unions at the Sault Ste. Marie steelmaker.
Ratification votes are scheduled for July 21 to July 25. Algoma won’t release any informative on the tentative agreement until after the union holds its information meetings.
In a July 20 news release, Algoma said discussions are ongoing with hourly workers represented by USW Local 2251. The company said it looks forward to reaching an agreement before that contract also runs out at month’s end.
Algoma Steel is enjoying one of the more profitable periods in its 120-year history with its rank-and-file workers enjoying some of the financial rewards. The sheet and plate manufacturer is the midst of building a new electric arc furnace complex, scheduled to come online in two years.
New company CEO Michael Garcia wants to keep the momentum going without interruption this year.
“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. 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.”