Haynes International, Inc. and USW Reach Tentative Agreement
KOKOMO, Ind., July 1, 2013 (GLOBE NEWSWIRE) -- Haynes International, Inc.
(Nasdaq:HAYN) announced today that the Company has reached a tentative five
year agreement with the leadership of the United Steelworkers Local 2958
(USW). The agreement covers approximately 505 employees at the Company's
Kokomo, Indiana plant and Lebanon, Indiana service center. Before it becomes
effective, the tentative agreement must be ratified by the USW membership. The
USW has informed the Company that it will take the tentative agreement to its
membership for a ratification vote as early as July 3, 2013. Until the
ratification process is complete, bargaining unit employees will continue to
work under the existing collective bargaining agreement.
"We are very pleased to have a tentative agreement," said Jean C. Neel, Vice
President – Corporate Affairs. "If ratified, this five year agreement between
Haynes and the USW will represent a strong statement that both the Company and
the USW are making a long-term commitment to our employees, customers and
shareholders. We hope for a successful outcome when the local union members
vote on the agreement."
About Haynes International
Haynes International, Inc. is a leading developer, manufacturer and marketer
of technologically advanced, nickel- and cobalt-based high-performance alloys,
primarily for use in the aerospace, chemical processing and land-based gas
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. All statements other than statements of
historical fact, including statements regarding industry prospects and future
results of operations or financial position, made in this press release are
forward-looking. In many cases, you can identify forward-looking statements by
terminology, such as "may", "should", "expects", "intends", "plans",
"anticipates", "believes", "estimates", "predicts", "potential" or "continue"
or the negative of such terms and other comparable terminology. Readers are
cautioned that any such forward-looking statements are not guarantees of
future performance and involve risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a result of
various factors, many of which are beyond the Company's control.
The Company has based these forward-looking statements on its current
expectations and projections about future events. Although the Company
believes that the assumptions on which the forward-looking statements
contained herein are based are reasonable, any of those assumptions could
prove to be inaccurate. As a result, the forward-looking statements based upon
those assumptions also could be incorrect. Risks and uncertainties, some of
which are discussed in Item 1A. of Part 1 to the Company's Annual Report on
Form 10-K for the fiscal year ended September 30, 2012, may affect the
accuracy of forward-looking statements.
The Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
CONTACT: Jean C. Neel
Vice President - Corporate Affairs
Haynes International, Inc.
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