PTC ALLIANCE AND UNION REACH NEW AGREEMENT

Alliance, OH – September 24, 2018 – PTC Group Holdings Corp. announced today that the unionized workers at its Alliance, Ohio plant have approved a new 4-year labor contract. The agreement was ratified on September 23rd following final discussions between the parties.

“We are gratified that we’ve been able to reach an agreement with our workers that sets us on a course for increased productivity and growth over the next four years”, said Brian Drennan, Vice President of Operations. “We are grateful to the members of the Union bargaining committee for their efforts during negotiations that helped both parties achieve this mutually beneficial agreement.”

Cary Hart, 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 level of quality products and service that they have come to expect and rely on.” “We have reached an agreement that ensures our employees continue to earn some of the best wages in the region and in the steel industry nationally.”

The Alliance, Ohio plant employs about 220 Union workers.

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 Darlington, PA; Fairbury, IL; Richmond, IN; Chicago Heights, IL; Hannibal, MO; and Beaver Falls, PA.