PITTSBURGH, Aug. 12 /PRNewswire-FirstCall/ -- United States Steel
Corporation (NYSE: X) today announced that its U. S. Steel Tubular Products,
Inc. subsidiary reached a tentative agreement with the United Steelworkers
(USW) on a new four-year labor contract that will cover approximately 900
USW-represented employees at U. S. Steel Tubular Products, Inc.'s Texas
Operations Division, a welded tubular products facility in Lone Star, Texas.
The tentative agreement will replace the contract expiring Sept. 1, 2008, and
remains subject to ratification by the United Steelworkers.
Commenting on the announcement, U. S. Steel Chairman and Chief Executive
Officer John P. Surma said, "We are pleased that a tentative agreement was
reached with the United Steelworkers on a competitive four-year contract for
our Texas Operations Division, which became part of our company just over one
year ago. This agreement will allow us to build upon the significant progress
that has been made to date. We believe that this agreement is in the best
interests of our company and all of our stakeholders."
Details about the tentative agreement will be made available after the
ratification process is complete.
This release contains forward-looking statements with regard to a new
labor agreement. The new labor agreement is subject to ratification by USW
members. Future profitability and competitiveness are subject to numerous
factors, many of which are beyond the control of U. S. Steel. In accordance
with "safe harbor" provisions of the Private Securities Litigation Reform Act
of 1995, cautionary statements identifying important factors, but not
necessarily all factors, that could cause actual results to differ materially
from those set forth in the forward-looking statements have been included in
the Form 10-K of U. S. Steel for the year ended December 31, 2007, and in
subsequent filings for U. S. Steel.
For more information about U. S. Steel, visit www.ussteel.com.
SOURCE United States Steel Corporation