Union, Timken Reach Tentative Agreement
CANTON, Ohio (AP) — Timken Co. said Tuesday that it reached a new tentative five-year agreement with the union representing workers at three Ohio plants.
The company said local members of the United Steelworkers union are to vote on the proposal within two weeks. Canton-based Timken makes industrial bearings and specialty steel products.
Workers in January voted to reject a previous agreement reached by union leaders that would have secured a $225 million expansion at one of the Ohio plants.
At the time, a Timken executive said the company would evaluate other investment opportunities. But Timken on Tuesday said the coming union vote is the "final opportunity" for the company to secure the workforce stability needed to make the Ohio plant investment.
The current contract expires in September 2013.