CUDAHY, Wis., Feb. 27 /PRNewswire/ -- Ladish Co., Inc.
(http://www.ladishco.com ) ("Ladish") and members of Local #1862 of the
International Association of Machinists and Aerospace Workers ("IAMAW")
ratified a new six-year labor agreement on Sunday, February 26. This new
agreement replaces the prior three-year agreement which expired on that date.
Local #1862 represents approximately 230 Ladish workers, and is the largest of
seven unionized groups at Ladish's Wisconsin facility. Five other labor
agreements will be negotiated during 2006.
The new agreement includes wage increases totaling 17% spread over the six
years of the agreement, in addition to certain pension improvements. The
Company and the IAMAW also agreed to share the increased costs of group health
insurance.
Kerry Woody, Ladish President and CEO stated, "We are pleased to have a
six-year agreement with the IAMAW. The Company and the IAMAW jointly
recognized the importance of the recent long-term agreements signed with major
customers such as Rolls-Royce and General Electric for jet engine forgings and
the need for a long-term commitment from our employees to support that
business. We continue to work with all of our employees to improve efficiency
and productivity; this agreement will serve to enhance our working
relationship toward that end in the years ahead."
Ladish Co., Inc. is a leading producer of highly engineered, technically
advanced components for the jet engine, aerospace and general industrial
markets. Ladish is headquartered in Cudahy, Wisconsin with operations in
Wisconsin, Oregon, Connecticut and Poland. Ladish common stock trades on
Nasdaq under the symbol LDSH.
SOURCE Ladish Co., Inc.
 back to top
Related links:
http://www.ladishco.com
CONTACT:
Wayne E. Larsen of Ladish Co., Inc.,
+1-414-747-2935, +1-414-747-2890 Fax; or William J. Libby of
Libby Communications, +1-203-820-6655, for Ladish Co., Inc.
|
