United Steelworkers (USW) Local 1123 Ratify Four-Year Contract with Metallus

Metallus (NYSE: MTUS) said employees represented by United Steelworkers Local 1123 ratified a new four-year collective bargaining agreement effective February 5, 2026 through September 30, 2029.

Rhea-AI Summary

Metallus (NYSE: MTUS) said employees represented by United Steelworkers Local 1123 ratified a new four-year collective bargaining agreement effective February 5, 2026 through September 30, 2029. The contract provides annual base wage increases, competitive healthcare and retirement benefits, and continued emphasis on safety, wellbeing, and sustainable operations.

Management described the deal as aligned with strategic priorities, supporting long-term competitiveness, cash generation, and profitability across market cycles.

Argus Feb 6 session

+2.60% close to close Open Argus

Details

News Market Reaction – MTUS

On Feb 6, the first trading day after this news, MTUS closed 2.60% above the previous close.

Data tracked by StockTitan Argus for the Feb 6 session.

Market Context

This announcement finalizes a four-year contract between Metallus and USW Local 1123, covering Canto...

Analysis

This announcement finalizes a four-year contract between Metallus and USW Local 1123, covering Canton-based bargaining employees from Feb 5, 2026 through Sep 30, 2029. It follows earlier tentative deals and a rejected agreement, removing uncertainty around negotiations for roughly 1,200 workers. Investors may focus on how yearly base wage increases and benefits interact with the company’s emphasis on strong cash generation, safety, and sustained profitability across market cycles.

Key Figures

Share price: $20.76 Daily change: -2.81% Volume: 363,609 shares +5 more

Share price

$20.76

Prior close before contract ratification news

Daily change

-2.81%

Price change in the last 24 hours before the article

Volume

363,609 shares

Trading volume today vs 20-day average 402,943

52-week high

$21.54

Upper end of 52-week trading range

52-week low

$10.78

Lower end of 52-week trading range

Market cap

$889,618,240

Equity value prior to contract ratification announcement

Bargaining employees

1,200 employees

Canton operations covered by USW Local 1123 agreements

Short interest

3.87%

Short interest as a percentage of float

Historical Context

5 past events · Latest: Jan 29

5 events

1. Jan 29

   Earnings webcast details

   24h Move

   +0.5%

   Announced dates and access details for Q4 and full-year 2025 results call.

2. Jan 16

   Tentative contract deal

   24h Move

   -1.2%

   Reached tentative four-year contract covering about 1,200 Canton bargaining employees.

3. Dec 18

   Contract rejected

   24h Move

   -1.6%

   Union members voted down second tentative agreement; contract extended to Jan 29, 2026.

4. Dec 04

   New tentative agreement

   24h Move

   +0.5%

   New four-year tentative agreement emphasizing wages, benefits, continuity, and safety.

5. Nov 07

   Earnings webcast details

   24h Move

   -1.4%

   Provided timing and access for third-quarter 2025 earnings conference call.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

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CANTON, Ohio, Feb. 5, 2026 /PRNewswire/ -- Metallus (NYSE: MTUS), a leader in high-quality specialty metals, manufactured components, and supply chain solutions, today announced that its employees who are members of United Steelworkers (USW) Local 1123 have voted in favor of a new four-year contract.

"We are pleased to have reached a mutually beneficial contract that reflects the dedication of our workforce and the company. We thank our employees and union partners for their constructive engagement throughout the bargaining process," said Mike Williams, chief executive officer of Metallus. "This contract reflects our shared commitment to safety, innovation, and long‑term competitiveness. It reinforces our strategic priorities and aligns with our disciplined focus on strong cash generation and sustained profitability across all market cycles."

The contract, which is in effect from February 5, 2026 to September 30, 2029, offers Metallus' Canton-based bargaining employees increases to base wages every year, competitive healthcare and retirement benefits for all members, and a continued focus on employee wellbeing as well as safe and sustainable operations.

ABOUT METALLUS INC.
Metallus (NYSE: MTUS) manufactures high-performance specialty metals from recycled scrap metal in Canton, OH, serving demanding applications in industrial, automotive, aerospace & defense and energy end-markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and manufactured components. In the business of making high-quality steel for more than 100 years, Metallus' proven expertise contributes to the performance of our customers' products. The company employs approximately 1,850 people and had sales of $1.1 billion in 2024. For more information, please visit us at www.metallus.com. 

FORWARD-LOOKING STATEMENTS
This news release includes "forward-looking" statements within the meaning of the federal securities laws. You can generally identify the company's forward-looking statements by words such as "will," "anticipate," "aspire," "believe," "could," "estimate," "expect," "forecast," "outlook," "intend," "may," "plan," "possible," "potential," "predict," "project," "seek," "target," "should," "would," "strategy," or "strategic direction" or other similar words, phrases or expressions that convey the uncertainty of future events or outcomes. The company cautions readers that actual results may differ materially from those expressed or implied in forward-looking statements made by or on behalf of the company due to a variety of factors, such as: (1) the effects of fluctuations in customer demand on sales, product mix and prices in the industries in which the company operates, including the ability of the company to respond to rapid changes in customer demand including but not limited to changes in domestic and worldwide political and economic conditions due to, among other factors, U.S. and foreign trade policies and the impact on economic conditions, changes in customer operating schedules due to supply chain constraints or unplanned work stoppages, the ability of customers to obtain financing to purchase the company's products or equipment that contains its products, the effects of customer bankruptcies or liquidations, the impact of changes in industrial business cycles, and whether conditions of fair trade exist in U.S. markets; (2) changes in operating costs, including the effect of changes in the company's manufacturing processes, changes in costs associated with varying levels of operations and manufacturing capacity, availability of raw materials and energy, the company's ability to mitigate the impact of fluctuations in raw materials and energy costs and the effectiveness of its surcharge mechanism, changes in the expected costs associated with product warranty claims, changes resulting from inventory management, cost reduction initiatives and different levels of customer demands, the effects of unplanned work stoppages, availability of skilled labor and changes in the cost of labor and benefits; (3) the success of the company's operating plans, announced programs, initiatives and capital investments, the consistency to meet demand levels following unplanned downtime, and the company's ability to maintain appropriate relations with the union that represents its associates in certain locations in order to avoid disruptions of business; (4) whether the company is able to successfully implement actions designed to improve profitability on anticipated terms and timetables and whether the company is able to fully realize the expected benefits of such actions; (5) the company's pension obligations and investment performance; (6) with respect to the company's ability to achieve its sustainability goals, including its 2030 environmental goals, the ability to meet such goals within the expected timeframe, changes in laws, regulations, prevailing standards or public policy, the alignment of the scientific community on measurement and reporting approaches, the complexity of commodity supply chains and the evolution of and adoption of new technology, including traceability practices, tools and processes; (7) availability of property insurance coverage at commercially reasonable rates or insufficient insurance coverage to cover claims or damages; (8) the availability of financing and interest rates, which affect the company's cost of funds and/or ability to raise capital; (9) the impacts from any repurchases of our common shares, including the timing and amount of any repurchases; (10) competitive factors, including changes in market penetration, increasing price competition by existing or new foreign and domestic competitors, the introduction of new products by existing and new competitors, and new technology that may impact the way the company's products are sold or distributed; (11) deterioration in global economic conditions, or in economic conditions in any of the geographic regions in which the company conducts business, including additional adverse effects from global economic slowdown, terrorism or hostilities, including political risks associated with the potential instability of governments and legal systems in countries in which the company or its customers conduct business, and changes in currency valuations; (12) the impact of global conflicts on the economy, sourcing of raw materials, and commodity prices; (13) climate-related risks, including environmental and severe weather caused by climate changes, and legislative and regulatory initiatives addressing global climate change or other environmental concerns; (14) unanticipated litigation, claims or assessments, including claims or problems related to intellectual property, product liability or warranty, employment matters, regulatory compliance and environmental issues and taxes, among other matters; (15) cyber-related risks, including information technology system failures, interruptions and security breaches; (16) the potential impact of pandemics, epidemics, widespread illness or other health issues; and (17) with respect to the equipment investments to support the U.S. Army's mission of ramping up munitions production in the coming years, whether the funding awarded to support these investments is received on the anticipated timetable, whether the company is able to successfully complete the installation and commissioning of the new assets on the targeted budget and timetable, and whether the anticipated increase in throughput is achieved. Further, this news release represents our current policy and intent and is not intended to create legal rights or obligations. Certain standards of measurement and performance contained in this news release are developing and based on assumptions, and no assurance can be given that any plan, objective, initiative, projection, goal, mission, commitment, expectation or prospect set forth in this news release can or will be achieved. Inclusion of information in this news release is not an indication that the subject or information is material to our business or operating results.

Additional risks relating to the company's business, the industries in which the company operates, or the company's common shares may be described from time to time in the company's filings with the SEC. All of these risk factors are difficult to predict, are subject to material uncertainties that may affect actual results and may be beyond the company's control. Readers are cautioned that it is not possible to predict or identify all of the risks, uncertainties and other factors that may affect future results and that the above list should not be considered to be a complete list. Except as required by the federal securities laws, the company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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SOURCE Metallus Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are the effective dates of the Metallus (MTUS) contract with USW Local 1123?

The contract runs from February 5, 2026 to September 30, 2029. According to Metallus, the four-year agreement sets the bargaining unit framework for pay, benefits, safety, and operations during that period.

Does the Metallus (MTUS) agreement include wage increases for Canton employees?

Yes. The agreement provides annual base wage increases for Canton-based bargaining employees. According to Metallus, wages will rise each year under the four-year contract while benefits and wellbeing programs are maintained.

What benefits did Metallus (MTUS) secure for union members in the new contract?

The contract includes competitive healthcare and retirement benefits for all covered members. According to Metallus, benefits remain a core element of the deal alongside workplace safety and employee wellbeing commitments.

How did Metallus (MTUS) management characterize the impact of the new labor agreement?

Management said the agreement reinforces long-term competitiveness and disciplined cash generation. According to Metallus, the contract aligns with strategic priorities and supports sustained profitability across market cycles.

Will the Metallus (MTUS) contract affect plant operations or safety practices?

The agreement emphasizes a continued focus on safety and sustainable operations at the Canton facility. According to Metallus, the contract includes commitments to employee wellbeing and safe operational practices during its term.