June 26, 2008
Union Workers Vote Today on Contract Offer From Global Brass
By Cynthia M. Ellis, The Telegraph, Alton, Ill.
Jun. 26--EAST ALTON -- Union workers with the former Olin Brass will be voting today on the first contract offered to them by the company that purchased the business last year.
Members of International Association of Machinists and Aerospace Workers District 9 will be voting at 9 a.m. today at Lewis and Clark Community College on an agreement that is being offered by Global Brass and Copper Inc.
Ann Pipkin, a spokeswoman with Global, said the company and the union's negotiating team reached a tentative agreement, but she would not specify details of the proposed contract. She said she would be able to comment after the union members have ratified the deal recommended to them.
Olin Corp. sold off its Metals Division to the New York-based private equity firm KPS Capital Partners LP in October. The sale was cause for concern for many employees, because KPS has a history of buying under-performing companies, restructuring them and selling them off.
The sale affected 1,800 workers at the company; IAMAW, which is based in East Alton, represents the majority of them -- between 900 and 1,000. Workers were concerned that they would lose their jobs after the current contract expired on Dec. 7.
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