PITTSBURGH, Aug. 12 /PRNewswire-FirstCall/ -- United States Steel
Corporation (NYSE: X) today announced a tentative agreement with the United
Steelworkers (USW) on a new four-year labor contract that will cover
approximately 16,000 USW-represented employees at U. S. Steel's domestic flat-
rolled and iron ore mining facilities as well as tubular operations in Lorain,
Ohio, and Fairfield, Ala. The tentative agreement will replace the contract
expiring Sept. 1, 2008, and remains subject to ratification by the United
Steelworkers.
Commenting on the announcement, U. S. Steel Chairman and Chief Executive
Officer John P. Surma said, "We are pleased to have reached a tentative
agreement with the United Steelworkers on a competitive four-year contract
well in advance of the expiration of our current contract. We value our
ongoing relationship with the USW and appreciate the contributions that our
employees make to the success of our business. We believe that this agreement
is in the best interests of our company and all of our stakeholders."
Details about the tentative agreement will be made available after the
ratification process is complete.
This release contains forward-looking statements with regard to a new
labor agreement. The new labor agreement is subject to ratification by USW
members. Future profitability and competitiveness are subject to numerous
factors, many of which are beyond the control of U. S. Steel. In accordance
with "safe harbor" provisions of the Private Securities Litigation Reform Act
of 1995, cautionary statements identifying important factors, but not
necessarily all factors, that could cause actual results to differ materially
from those set forth in the forward-looking statements have been included in
the Form 10-K of U. S. Steel for the year ended December 31, 2007, and in
subsequent filings for U. S. Steel.
For more information about U. S. Steel, visit www.ussteel.com.
SOURCE United States Steel Corporation