Gerdau Ameristeel and United Steelworkers Union Reach Agreement With Sand Springs, Oklahoma and Calvert City, Kentucky Mills
Posted on: Tuesday, 2 October 2007, 18:00 CDT
TAMPA, FL, Oct. 2 /PRNewswire-FirstCall/ -- Gerdau Ameristeel Corporation (NYSE: GNA; TSX: GNA.TO) announced today that it has reached agreements with the United Steel Workers (USW) at Gerdau Ameristeel's Sand Springs, Oklahoma and Calvert City, Kentucky steel mills. The new contracts are effective September 28, 2007 and run through March 2, 2011 and October 1, 2007 through April 22, 2011 respectively.
"Gerdau Ameristeel is very pleased that we were able to complete these last two contracts with the USW, said Terry Danahy, Vice President and Chief Human Resources Officer, Gerdau Ameristeel. "We have settled eight contracts this year and now all USW union locations in North America have agreements in effect."
About Gerdau Ameristeel:
Gerdau Ameristeel is the second largest mini-mill steel producer in North America with annual manufacturing capacity of approximately 12 million tons of mill finished steel products. Through its vertically integrated network of 19 mini-mills (including one 50% owned joint venture mini-mill), 19 scrap recycling facilities and 62 downstream operations, Gerdau Ameristeel serves customers throughout North America. The company's products are generally sold to steel service centers, steel fabricators, or directly to original equipment manufactures for use in a variety of industries, including construction, cellular and electrical transmission, transportation and automotive, mining and equipment manufacturing. The common shares of Gerdau Ameristeel are traded on the New York Stock Exchange, and the Toronto Stock Exchange under the symbol GNA. For additional investor information, visit http://www.gerdauameristeel.com/.
Gerdau Ameristeel Corporation
CONTACT: Investor Relations, Barbara R. Smith, Vice President and ChiefFinancial Officer, Gerdau Ameristeel, (813) 319-4324,BAsmith@gerdauameristeel.com; Media Relations, Steven Hendricks, Director,External Communications, (813) 319-4858, SThendricks@gerdauameristeel.com
Source: PRNewswire-FirstCall
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