Latrobe Specialty Metals Company has announced that the United Steelworkers' Local 1537 overwhelmingly approved a tentative agreement on July 30th 2011. The new agreement consists of approximately three and one third percent annual wage increases for all hourly union employees over the 3 year life of the agreement. Pension, health care and all other benefits in the contract remain unchanged.

The previous agreement, while not set to expire until August 1st 2013, contained a wage re opener and the limited right to strike on August 1st 2011 if an agreement on wages was not reached. This agreement ensures there will be no interruptions in production at the Latrobe PA facility.

Mr B Christopher DiSantis president & CEO of Latrobe Specialty Metals Company said that "We are very pleased at the result. Our contract was set to expire in two years and we were able to agree on the addition of a third year. The increases reflect the value we place on our workers in Latrobe, who are some of the best in the entire metals industry. The additional year provides the union and the company with an additional year of certainty and predictability with respect to compensation and benefits. With a signed contract in place, our customers can rest assured they will continue to get our complete focus on service and no disruption in the flow of supply."