Bucyrus and USWA Local 1343 Reach Contract Agreement
Members of the United Steel Workers of America, Local 1343 employed by Bucyrus International, Inc (NASDAQ: BUCY) at the South Milwaukee and Milwaukee facilities met to discuss and vote on an extension to their existing labor contract. The contract extension was approved by a 70% majority of the voting members on December 9, 2008.
The existing agreement went into effect on November 22, 2004 and was not scheduled to expire until April 30, 2010. In a show of good faith and to allow sufficient opportunity for all parties to address the mutual needs and opportunities of the workforce and of Bucyrus early-negotiations were undertaken. The contract extension will remain in effect through April 30, 2013.
Ken Krueger, Bucyrus Chief Operating Officer stated, "Much has been accomplished in the new labor contract. Operations management and the leadership of Local 1343 have worked hard to put together a good agreement. The agreement provides very competitive wages and benefits, while at the same time improving flexibility and creating an environment that is more conducive to continued improvement and efficiency in manufacturing operations."
About Bucyrus International, Inc.
Bucyrus is a world leader in the design and manufacture of high productivity mining equipment for the surface and underground mining industries. Bucyrus' surface mining equipment is used for mining coal, copper, iron ore, oil sands and other minerals. Bucyrus' underground mining equipment is used primarily for mining coal and also used in mining minerals such as potash and trona. In addition to machine manufacturing, Bucyrus manufactures high quality OE parts and provides world-class support services for their machines. Bucyrus' corporate headquarters is located in South Milwaukee, Wisconsin, USA.
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