U.S. Steel Canada and United Steelworkers Local 1005, the union that represents steelworkers at the Hamilton plant, have a tentative deal on a new collective bargaining agreement.
The company announced the deal on Tuesday afternoon, one day before the current agreement was set to expire, saying it remains subject to ratification and details will be released after its approval.
Steelworkers, both present and retired, will get a chance to see the new agreement at a membership meeting set for Wednesday afternoon.
"We are pleased to have reached a tentative agreement with USW Local 1005, that will add stability to our operations and give confidence to our employees, our customers and other stakeholders that U. S. Steel Canada remains committed to serving the Canadian and North American markets," said Michael McQuade, President and General Manager of U. S. Steel Canada, in a news release.
Steelworkers will vote on the deal on Oct. 22.
The tentative agreement comes less than a week after an Ontario bankruptcy judge approved U.S. Steel Canada's plan to borrow $185 million from its American parent, U.S. Steel Corp., to get it through a year of restructuring.
The company sought bankruptcy protection under the Companies' Creditors Arrangement Act (CCAA) in September.
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