The 1,100 IAM members at Global Brass and Copper Inc.overwhelmingly approved a five-year labor contract recently. Global Brass is in East Alton, IL and our members are affiliated with IAM District 9, Local 660.
The membership voted by a nearly 3.5-to-1 ratio to ratify the first contract offered to them by the New York-based private equity firm, KPS Capital Partners LP. The company purchased the Metals Division of Olin Corp. in October.
"We are very pleased with the outcome," said District 9 Business Representative Dennis Pearson.
Pearson said the vote was 672-189 in favor of the new contract.
The new agreement will boost wages 16 percent during the next five years. Employees will earn a 3.5 percent salary increase the first and fifth year, with raises of 3 percent the second, third and fourth years.
Health insurance costs are expected to remain nearly the same or increase only slightly, depending on the coverage plan. Employees also will receive a $1,000 signing bonus.
Another significant benefit is that our members at Global Brass will be in the IAM National Pension Fund.
Pearson praised the plant chairmen involved in the negotiations saying, "It was through the hard work and dedication of Dan Jarmen, Jim Armentrout, and Jason Tetidrick that we were able to bring back this contract for our members to ratify."
IAM Midwest Territory General Vice President Philip J. Gruber congratulated District 9, Lodge 660 in forging this agreement with Global Brass saying, "The negotiating team deserves praise for their hard work in achieving a first contract with Global Brass and briniging our membership into the IAM National Pension Fund."
