RENEWAL OF EMPLOYMENT CONTRACTS BETWEEN ARCELORMITTAL LONG PRODUCTS CANADA AND UNIONIZED EMPLOYEES

CONTRECŒUR, QC and LONGUEUIL, QC, Feb. 27, 2022 /CNW Telbec/ - ArcelorMittal Long Products Canada is proud to announce the renewal of the three collective agreements with its employees from the Contrecoeur-East and Longueuil complexes, and its offices.

On Sunday, February 27, ArcelorMittal Long Products Canada's 800 employees ratified, with a strong majority, the principle agreement previously recommended to them by their union executives.

François Perras, Chief Executive Officer, consider the outcome of this negotiation to be aligned with the company's objectives "We are in a new era and ArcelorMittal Long Products Canada is committed to the values of sustainable development. It is important for us, yes, to take care of our planet and to make sustainable steel, and this includes first and foremost taking care of our people. We are very proud of the innovations introduced in these collective labour agreements, and we count on each of our employees to continue the development of our company!".

These new six-year collective agreements (2022-2028) offer a wage increase of $9 per hour, which represents a 26% increase in average wages. This means that by the end of the agreement, the wage at the bottom of the scale will increase from $29.93 to $38.93 per hour. The wage at the top of the scale will rise to $49.92 per hour.

They also update the improvement of some premiums and the introduction of new ones that eventually represent up to $2 per hour. As for the defined benefit pension plan, it has increased significantly by $9, including $4 in the first year, from $59 per month per year of service to $68 per month per year of service at the end of the six years.

"This new contract is a step forward for the industry. It will allow us to attract the new generation and retain all our people, to whom we are particularly grateful despite the conflict. We are innovating by putting forward, on one hand, work-life balance, and just-in-time flexibility which gives us a competitive advantage to serve our local and international clients on the other. In this way, we are concretely addressing the labour shortage that we are all facing" says Hugues Fauville, Vice President, Human Resources.

The company is introducing a four-day, ten-hour schedule, new flexibility for rotating shifts and a new Saturday premium. The company is also adding new practices of compensated time and plant shutdowns practices on certain holidays.

Furthermore, the increase in the amounts of various health specialists' services, the significant increase for families in life insurance and disability benefits demonstrate the importance that ArcelorMittal Long Products Canada places on the overall health of its employees.

This positive vote puts an end to the labour disagreement that began on February 2. It ensures a return to normal operations at the Contrecoeur East and Longueuil complexes and in the offices as of Monday morning, February 28.

About ArcelorMittal Long Products Canada
ArcelorMittal Long Products Canada's mission is to produce sustainable steel in a safe manner in line with its values of health and safety, quality, leadership, and sustainable development. The company employs approximately 1,900 people in Contrecoeur, Longueuil, Montréal and Hamilton. The company counts a scrap recycling and processing site, an ore reduction plant, two steel mills, three rolling mills and two wire drawing mills. The group has an annual production capacity of more than 2 million tons of steel and generates economic spinoffs of more than $1 billion per year.

SOURCE ArcelorMittal Long Products Canada

Danielle Tardif, [email protected], 438-922-5931