Ispat Inland and USWA extend labor contract

Ispat Inland and USWA extend labor contract

According to recent news in the market, steel producer Ispat Inland and the union United Steel Workers of America (USWA) have recently determined to extend the labor contract till August 15, 2004. The labor contract covering workers at three units of Ispat Inland would expire on July 31, 2004. It is stated that the labor contract has been extended as no compromise has been made on certain issues. On-going negotiations between Ispat Inland and USWA involving workers at Ispat Inland's Indiana Harbor Works in East Chicago, Ispat Inland Mining Co in Virginia and I/N Tek and I/N Kote joint venture in New Carlisle are expected to be completed soon.