Algoma Steel Inc. Company Announcement.Business Editors SAULT STE. MARIE Sault Sainte Marie — pronounced "Soo Saint Marie" (IPA /su seɪnt məˈɹi/) — is the name of two cities on the Saint Marys River, which forms part of the boundary between the United States and Canada. , ONTARIO--(BUSINESS WIRE)--Jan. 28, 2000 (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ALGSF) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :ALG ALG antilymphocyte globulin. ALG antilymphocyte globulin. ALG Antilymphocyte globulin, see there .) Algoma Steel Inc. today announced that the members of United Steelworker (USWA) Locals 2251 and 2724 have ratified recently negotiated collective agreements running to July 31, 2002. These two USWA Locals represent all of Algoma Steel's unionized employees. Sandy Adam, Algoma's President and CEO, stated that ratification of the collective agreements is a positive step for the Company's future. He said &uot;These collective agreements will assist the Company's focus on improving productivity and in meeting future financial challenges. The agreements will also alleviate any developing uncertainty among the Company's suppliers, customers and lenders about the status of the Company's labour agreements that were previously scheduled to expire on July 31, 1999.&uot; The new collective agreements provide for continuation of cost of living allowances, no increases in wage rates or benefits, and a commitment to a 450 person reduction in employment over the term of the agreements. Algoma Steel, based in Sault Ste. Marie, Ontario For the city of Sault Ste. Marie in Michigan, or the Canadian federal and provincial electoral districts of the same name, see: Sault Ste. Marie. Sault Ste. Marie (nicknamed "the Sault" or "the Soo") is a city on the St. Marys River in Ontario, Canada. , is Canada's third largest integrated steel producer. Revenues are derived primarily from the manufacture and sale of rolled steel products, including hot and cold rolled sheet and plate. |
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