1. Metallus and USW Local 1123 have extended their contract negotiations. 2. The extension allows talks to continue until October 15, 2025. 3. CEO Mike Williams emphasizes commitment to profitability and stakeholders. 4. Current agreement impacts approximately 1,200 employees in Canton, Ohio. 5. Metallus had sales of $1.1 billion in 2024, showing strong performance.
The contract extension suggests stability and constructive negotiations, potentially boosting investor confidence. Historically, companies that avoid labor disputes often see positive stock performance.
The article addresses labor relations, essential to Metallus's operations and profitability, thus impacting stock sentiment.
Negotiations are currently ongoing, and their outcome may directly influence stock performance. Immediate market response can follow contract news.
CANTON, Ohio, Sept. 25, 2025 /PRNewswire/ -- Metallus (NYSE: MTUS), a leader in high-quality specialty metals, manufactured components, and supply chain solutions, and the United Steelworkers (USW) Local 1123 have jointly agreed to extend their contract, which expires on Monday, September 29, 2025. The extension will allow negotiations to continue as both sides work toward a mutually acceptable agreement. The extension will expire on Wednesday, October 15, 2025.
"Negotiations are progressing constructively," said Mike Williams, chief executive officer of Metallus. "We remain focused on reaching a collaborative agreement that supports the long-term success of the company and meets the needs of all stakeholders. Our commitment to strong cash generation and sustained profitability across market cycles remains firm, as does our dedication to serving customers and operating safely."
The current agreement covers approximately 1,200 bargaining employees at the company's Canton, Ohio operations.
ABOUT METALLUS INC.
Metallus (NYSE: MTUS) manufactures high-performance specialty metals from recycled scrap metal in Canton, OH, serving demanding applications in industrial, automotive, aerospace & defense and energy end-markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and manufactured components. In the business of making high-quality steel for more than 100 years, Metallus' proven expertise contributes to the performance of our customers' products. The company employs approximately 1,850 people and had sales of $1.1 billion in 2024. For more information, please visit us at www.metallus.com.
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SOURCE Metallus Inc.