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Severstal Reaches Contract with UAW
Severstal North America unit says it has reached a tentative five-year contract with the United Auto Workers union.
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Severstal North America unit says it has reached a tentative five-year contract with the United Auto Workers union. The Dearborn, Mich.-based steelmaker did not disclose terms of the deal, which is subject to ratification by union members.
The pact covers 1,100 production and maintenance workers at the complex formerly known as Rouge Steel. The company is a unit of Russian automaker OAO Severstal.
The U.S. Dept. of Energy dealt Severstal a setback in January when it canceled a planned $730 million loan to help the steelmaker build high-strength auto steel. The loan had been criticized in Congress because it involved a Russian company and a product indirectly linked to the program's goal of helping carmakers develop more fuel-efficient vehicles. The DOE denies that politics played a role in the Severstal decision.
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