The Board of Arbitration, jointly selected by United States Steel Corporation and the United Steelworkers (USW) to decide disputes between them, ruled on Wednesday that the company satisfied "each of the conditions of the successorship clause of its Basic Labor Agreement (BLA) with the USW," adding that no further actions are required for the takeover transaction between US Steel and Nippon Steel Corp.
According to the Board of Arbitration, the Japanese steelmaker has "recognized the USW as the bargaining representative for USW-represented employees at US Steel," provided reasonable assurances that it will honor all commitments made by US Steel, and "assumed all USW agreements."
During the term of the BLA, Nippon Steel promised to invest at least $1.4 billion in USW-represented facilities, not carry out layoffs, and safeguard US Steel's "best" interests.
