Canton, Ohio-based specialty steelmaker The Timken Company announced Sunday that members of the United Steelworkers Local 1123 in Canton and Timken representatives failed to ratify a tentative labor agreement.
A Timken press release indicated that the contract offered workers wage and benefit increases, a signing bonus for ratification and additional job security measures. Timken Steel Business President Salvatore J. Miraglia said, "We are disappointed in this outcome because the contract was a necessary step before our commitment to invest $225 million in steel operations in Canton." The existing contract remains in effect until September 2013.