Weirton Steel's New Labor Agreement

Weirton, WV - Weirton Steel Corp.'s chief executive officer said the company has significantly improved its position to compete following ratification of new labor agreements by its unions.

"We took a big step forward in boosting our competitiveness. Although it's painful to ask for sacrifices and even more so for those affected, I thank the union members for their courage and management members for understanding that change is needed for our long-term viability," said John H. Walker, company president and CEO.

"With all the steel bankruptcies that have occurred, it's better for our stakeholders that we avoid that fate by implementing different ways to compete.

"Our employees weathered the steel import crisis and now face these new challenges. They've never backed down from any threat to our survival and I don't believe they ever will," Walker commented.