SALEM, Va. (June 2, 2010)—Members of United Steelworkers Local 1023 voted over Memorial Day weekend to accept a new four-year contract agreement with Yokohama Tire Corp.
The newly-ratified pact runs through May 16, 2014, according to a summary of the agreement. The previous three-year contract expired May 16, the day the company and union reached a tentative agreement.
The contract contains non-closure language for Yokohama's Salem plant, where about 670 Local 1023 members work, for the life of the pact, the summary said.
The agreement also includes a partial return of cost-of-living-allowances diverted in 2007 and secured COLA for new hires; maintenance of the current pension system and an increase of the monthly pension multiplier to $56 per year of service; and improvements in safety and health language, including better notification procedures for accidents and an increased number of fire drills.