DOWNERS GROVE, Ill., June 21 /PRNewswire-FirstCall/ -- TMK IPSCO was notified Saturday night by the United Steelworkers (USW) and its Local 9305 that union members at the Company's Koppel and Ambridge, Pennsylvania plants have ratified a new labor agreement. The new contract replaces one that expired May 31, 2010 and will remain in effect through May 31, 2014. The contract covers approximately 200 production and maintenance employees at the Koppel plant and 350 at Ambridge.
The terms of the new agreement include introduction of a new incentive plan based on productivity, quality, and safety, plus increases in base wages each year of the contract along with higher contributions by the company to the USW Pension Trust, and health insurance cost containment measures.
TMK IPSCO operates in North America as a division of TMK, the largest pipe producer in Russia and one of the three global market leaders. TMK IPSCO is a leading producer of energy tubulars. It operates one steel mill and ten pipe mills and product finishing facilities in eight states across the United States. TMK IPSCO's pipe mills produce a wide range of seamless and welded energy tubular products including oil & gas well casing and tubing, line pipe, standard pipe and hollow structural sections. TMK IPSCO also manufactures premium connections for oil and natural gas drilling and production under the ULTRA™ brand name.
TMK IPSCO Manufacturing Plants
TMK (LSE: TMKS) (OTCQX, Pink OTC Markets: TMKXY) is one of the world's leading manufacturers and suppliers of steel pipes for the oil and gas industry. The company operates 22 production sites in Russia, the United States, Romania, and Kazakhstan. In 2009, TMK shipped 2.8 million tonnes of pipe products and supplied companies in more than 65 countries.
For more information about the TMK Group and TMK IPSCO, including ULTRA Premium Connections, please visit our web site at www.tmk-ipsco.com
SOURCE TMK IPSCO