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STEELWORKERS DECLARE READINESS TO NEGOTIATE WITH LTV STEEL

 STEELWORKERS DECLARE READINESS TO NEGOTIATE WITH LTV STEEL
 PITTSBURGH, Feb. 24 /PRNewswire/ -- The United Steelworkers of America (USW) today released a resolution adopted by 19 local union presidents representing 13,400 members at 13 plant locations of LTV Steel Corp. (NYSE: QLTV) that stated a willingness to negotiate a new labor agreement.
 The resolution was approved following a meeting called by the USW chairman of the LTV negotiating committee, Anthony Rainaldi, director of the union's District 20 in Pittsburgh.
 According to Rainaldi, the meeting was called in response to the unveiling by LTV of its new "plan of reorganization" two weeks ago, seeking to win approval of the plan and to get out of bankruptcy by no later than the end of the year. The current labor contract continues in effect until Aug. 1, 1993, or the end of bankruptcy, whichever comes sooner.
 Text of the resolution follows:
 "Whereas the past 10 years of sacrifice by Steelworkers at LTV Steel have now positioned the company for a successful reorganization in 1992; and
 "Whereas, aided by Steelworker hardship and commitment, LTV Steel has in recent years substantially modernized its facilities, concentrated its business in the most profitable product of its industry, and earned a reputation as the producer of the highest quality steel; and
 "Whereas, having used Chapter 11 to streamline its debt burden, the revitalized LTV Steel will emerge from reorganization a viable competitor in its industry with the resources to meet the needs of its employees and retirees; and
 "Whereas, these circumstances enable LTV Steel and the union to discuss constructively how our next labor contract can credit the contributions of active and retired Steelworkers. For example, LTV Steel employees and retirees have had no increases in their pension benefits since 1980; and
 "Whereas, rejecting a positive approach to our negotiations, the company -- urged on by the large banks and corporations making up its creditor group -- has called for a new labor contract inflicting steep benefit and other concessions on all Steelworkers, active and retired; and
 "Whereas, to accomplish an unfair objective, LTV Steel and the creditors must resort to illegitimate means. They intend to seek leverage over Steelworkers by resorting, perhaps as early as next week, to a stratagem as unfair as it is unwise and unlawful. They intend to ask the bankruptcy court for permission to throw out or 'reject' our current labor contract, even though that very contract now forbids this. Their apparent objective is to win the power to unilaterally cut our compensation, insurance, and other benefits. LTV Steel and its creditors are committed to nothing less than the effective lockout of the labor force; and
 "Whereas, this misguided strategy guarantees a work stoppage and makes eventual agreement that much more difficult to achieve. At precisely the time they should be making a good faith proposal for our next contract, LTV Steel and the creditors are plotting to tear up our present contract; and
 "Whereas, most of all, a contract rejection will impair labor relations at LTV Steel for years. If our contract is rejected, every active and retired Steelworker will correctly regard that as the company's single biggest miscalculation since its 1986 cutoff of retiree health insurance; and
 "Whereas, the coming weeks and months will test the ability of all Steelworker employees and retirees to act concertedly, aggressively, and effectively.
 "Now therefore be it resolved that:
 1. As a union, we ready ourselves for the challenge of negotiations at LTV Steel. In this struggle, we call upon the support of every active and retired Steelworker.
 2. Our willingness to cooperate with reasonable company actions is exceeded only by our determination to fight unjustified takeaways. In the event our contract is rejected and thrown out, we serve notice on all interested parties that we will pursue lawful economic actions.
 3. The union stands ready to negotiate a new labor contract meeting the needs of our members, the retirees, and the company. In these negotiations, we will do as we have always done: carefully determine the relevant facts and then work to secure the fairest and best possible contract."
 -0- 2/24/92 R
 /CONTACT: USW Communications Department, 412-562-2442/
 (QLTV) CO: United Steelworkers of America; LTV Steel Corp. ST: Pennsylvania IN: MNG SU: CON


KK -- PG017 -- 2189 02/25/92 08:44 EST
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Date:Feb 25, 1992
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