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Metallus (NYSE: MTUS) and the United Steelworkers (USW) Local 1123 have reached a mutual agreement to extend their current contract, which is set to expire on September 29, 2025. This extension will allow both parties to continue negotiations in a bid to reach a satisfactory agreement. The new expiration date for the extension has been set for October 15, 2025.
“Negotiations are progressing constructively,” stated Mike Williams, the chief executive officer of Metallus. He expressed optimism about the discussions, emphasizing the company’s commitment to achieving a collaborative agreement that supports its long-term success while addressing the needs of all stakeholders. Williams reaffirmed the company’s focus on strong cash generation and sustained profitability across various market cycles, along with a commitment to customer service and safety in operations.
Contract Details and Worker Impact
The existing agreement encompasses approximately 1,200 bargaining employees at Metallus’s operations in Canton, Ohio. The decision to extend the contract comes amidst ongoing discussions about workforce conditions and compensation, as both sides aim to align their objectives for the benefit of employees and the company alike.
Metallus is recognized as a leader in the specialty metals industry, focusing on the production of high-performance components from recycled materials. The company serves vital sectors, including industrial, automotive, aerospace and defense, and energy markets. With over a century of experience in steel manufacturing, Metallus has established itself as a premier U.S. producer of alloy steel bars, seamless mechanical tubing, and other specialized components. In 2024, the company reported sales totaling $1.1 billion.
Company Overview and Future Outlook
Employing approximately 1,850 people, Metallus continues to play a significant role in the U.S. manufacturing landscape. The company is dedicated to enhancing its capabilities while maintaining high standards of quality and safety. As negotiations progress, both Metallus and USW Local 1123 remain committed to finding a resolution that not only meets the immediate needs of the workforce but also secures the company’s future growth and stability.
For further information about Metallus and its operations, interested parties can visit the company’s official website at www.metallus.com.
