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GENEVA STEEL AND UNITED STEELWORKERS OF AMERICA REACH TENTATIVE AGREEMENT

 VINEYARD, Utah, Aug. 31 /PRNewswire/ -- Geneva Steel (NYSE, PSE: GNV) and the United Steelworkers of America announced today that they have reached a tentative agreement, which is subject to ratification by the Union's membership, on a new collective bargaining contract. The current agreement expires at midnight tonight.
 Robert Petris, the Union's chief negotiator, and Joseph A. Cannon, Geneva's chairman and chief executive officer, characterized the agreement as a good contract which is consistent with the company's modernization objectives and the Union's economic goals for its members.
 "The talks were a `win-win' for both parties," said Cannon.
 "This was a productive effort by the parties to find a middle ground on difficult issues," said Petris.
 The terms of the agreement will be released after having been presented to the Union membership by its leaders.
 Geneva Steel is the only integrated steel mill operating west of the Mississippi River. The company manufactures hot-rolled steel sheet, plate and pipe for sale primarily in the western and central United States.
 -0- 8/31/93
 /CONTACT: Dennis L. Wanlass of Geneva Steel, 801-227-9302/
 (GNV)


CO: Geneva Steel; United Steelworkers of America ST: Utah IN: MNG SU:

TS-OS -- NY014 -- 7410 08/31/93 10:13 EDT
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Publication:PR Newswire
Date:Aug 31, 1993
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