BRIEF: Timken reaches deal with union

Fri. October 16, 2009; Posted: 08:18 AM

Oct 16, 2009 (The Akron Beacon Journal - McClatchy-Tribune Information Services via COMTEX) -- TKR | Quote | Chart | News | PowerRating -- Canton bearings and steelmaker Timken Co. and the United Steelworkers reached agreement on a new four-year contract, the company said on its Web site Thursday.

Earlier this week, the company said it and Steelworkers Local 1123 reached agreement on "several significant open issues" before Thursday's 5 p.m. deadline.

"Both the company and the union worked hard toward a contract that is good for our customers, our associates and the community," Sal Miraglia, president of Timken's Steel Group, said in a written statement.

A number of key issues remained unresolved going into talks Thursday, the company said.

Timken and Local 1123 have been in talks since Aug. 25. The old contract expired Sept. 28 but was extended during negotiations. It has been extended again to Oct. 31 to allow voting on the new pact.

Local 1123 represents more than 2,300 hourly workers.

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For full details on Timken Co (TKR) click here. Timken Co (TKR) has Short Term PowerRatings of 5. Details on Timken Co (TKR) Short Term PowerRatings is available at This Link.

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