CUDAHY, Wis., Oct. 2 /PRNewswire-FirstCall/ -- Ladish Co., Inc.
(http://www.ladishco.com ) ("Ladish") and members of Local #1509 of the
Boilermaker-Blacksmiths Union ratified a new six-year labor agreement on
Sunday, October 1. This new agreement replaces the prior three-year
agreement which expired on that date. Local #1509 represents approximately
175 Ladish workers, and is the second largest of seven unionized groups at
Ladish's Wisconsin facility. Local #1509 is the fifth of Ladish's
bargaining groups to sign a new six-year agreement in 2006.
The new agreement includes increases in wages and pension contributions
averaging less than 3% and less than .5% per year, respectively, over the
six- year term of the agreement. The Company and the
Boilermaker-Blacksmiths 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 Boilermaker-Blacksmiths. The Agreement with
Local #1509 follows the pattern established in prior agreements this year
and reaffirms the commitment of Ladish employees to support our major
customers. Long-term agreements with major customers such as Rolls-Royce
and General Electric for jet engine forgings provided the impetus for the
succession of six-year labor agreements. The Company and its employees
jointly recognize the importance of improved efficiency and productivity
and are committed to that goal going forward."
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.
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Related links:
http://www.ladishco.com
CONTACT:
Wayne E. Larsen of Ladish Co., Inc.,
+1-414-747-2935, fax: +1-414-747-2890; or William J. Libby of
Libby Communications, +1-203-820-6655, for Ladish Co., Inc.
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