Haynes International, Inc. Announces Ratification of Labor Agreement
KOKOMO, Ind., July 3, 2013 (GLOBE NEWSWIRE) -- Haynes International, Inc.
(Nasdaq:HAYN) announced today that membership of the United Steelworkers Local
2958 (USW) has ratified a five-year agreement covering approximately 505
employees at the Company's Kokomo, Indiana plant and Lebanon, Indiana service
center. The new agreement succeeded an existing agreement that ran through
June 30, 2013.
"We are very pleased that the local union has ratified this new contract,"
said Mark Comerford, President and Chief Executive Officer of the Company. "We
believe that this was a successful negotiation process, with contributions by
both sides. With this agreement in place, we look forward to focusing our
energy and efforts on meeting the needs of our customers and working together
to build a strong future for our company."
"The new collective bargaining agreement is the result of great efforts by
both parties to make positive strides for customers, employees and
shareholders," said Jean C. Neel, Vice President – Corporate Affairs. "We are
very pleased that our employees have shown their support for the new five-year
About Haynes International
Haynes International, Inc. is a leading developer, manufacturer and marketer
of technologically advanced, high performance alloys, primarily for use in the
aerospace, land-based gas turbine and chemical processing industries.
Cautionary Note Regarding Forward-Looking Statements
This news release may contain 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. Those statements may include, but are not
limited to, statements regarding the intent, belief or current expectations of
the Company or its management with respect to the USW's ratification of the
labor contract; strategic plans; revenues; financial results; global economic
and political conditions; and production levels at the Company's Kokomo,
Indiana facility. 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 Part1 to the Company's Annual Report on
Form10-K for the fiscal year ended September30, 2009, 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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