PTC ALLIANCE AND RICHMOND, IN UNION AGREE TO NEW LABOR AGREEMENT

Richmond, IN – November 5, 2019 – Union employees at PTC Alliance’s Richmond, Indiana plant have approved a new 4-year labor contract. The agreement was ratified on November 4, following two (2) weeks of negotiations between the parties.

“We are grateful to the members of the Union bargaining committee for their efforts during negotiations that helped both parties to achieve this mutually beneficial agreement”, said Brian Drennan, Vice President of Operations. “We are pleased a contract was reached that works for the Company and our union members. This is an example of labor and management working together in a positive way to move the Richmond facility forward into the future”, continued Drennan.

Cary Hart, CEO and President of PTC Alliance, said “This new labor contract has laid the foundation that will enable PTC Alliance to continue to provide our customers with the quality products and service that they have come to expect from this facility while maintaining our cost competitiveness in the market.”

The Richmond, Indiana plant employs about 40 workers who are represented by the United Steelworkers of America.

PTC Alliance is a leading manufacturer and marketer of welded and cold drawn mechanical steel tubing. The Company’s major customers include steel service centers, automotive and truck manufacturers, construction and agricultural equipment OEMs. The Company’s other plants are in Alliance, OH; Beaver Falls, PA; Fairbury, IL; Chicago Heights, IL; Hannibal, MO; and Darlington, PA.