U.S. Steel ends lockout at Ontario plant
A strike-lockout involving members of the United Steelworkers at U.S. Steel's Lake Erie plant at Nanticoke, Ont., is over after a successful contract ratification vote, the company said Friday.
Hundreds of workers at the Lake Erie Works were locked out last August.
Steelworkers local president Bill Ferguson said the agreement includes a $3,000 signing bonus, a new profit-sharing plan with most concessions off the table and a pension plan for new employees.
The ratification vote was held Thursday and Ferguson has said employees are expected to be back at work within two to three weeks.
U.S. Steel Canada president David Rintoul said in a release the union is pleased the employees ratified the three-year contract. He said changes to the pension will significantly improve the long-term competitiveness and sustainability of the Lake Erie plant.