MIDDLETOWN, Ohio (AP) - Steel products producer AK Steel Holding Corp. said Monday that union workers at an Indiana plant have ratified a new six-year labor deal.
The new agreement with the United Auto Workers Local 3044 will take effect Aug. 1 and run through Sept. 30, 2013. The contract covers about 190 hourly production workers at AK Steel's Rockport Works plant.
Among the new contract's features, AK Steel said it includes a signing bonus for early ratification and improved contributions to retirement plans.
Shares of AK Steel rose 57 cents, or 1.5 percent, to $38.96 in morning trading.