Unions agree to extension of Ingalls Shipbuilding agreement

ingallsHuntington Ingalls Industries (NYSE:HII) reports that the Pascagoula Metal Trades Council (PMTC) and local chapters of the International Brotherhood of Electrical Workers (IBEW), International Association of Machinists (IAM), United Federation of Special Police and Security Officers (UFSPSO) and Office and Professional Employees International Union (OPEIU) approved an extension on the collective bargaining agreement with the company's Ingalls Shipbuilding division.

"This collaboration between management and labor is another example of how we continue to work together to ensure we provide the best opportunities for our shipbuilders and at the same time position our shipyards to compete for future contracts," said Edmond Hughes, vice president, human resources and administration, Ingalls Shipbuilding.

Union leadership, represented by PMTC President Mike Crawley, IBEW Business Manager Jim Couch, IAM Directing Business Representative Joe Harrington, UFSPSO Business Manager Glenn Veil and OPEIU Business Manager Lula Stewart, issued a collective statement, saying, "Ingalls Shipbuilding and the PMTC, IBEW, IAM, OPEIU and UFSPSO unions are pleased that our proposal for a three-year contract extension has been ratified by our shipbuilders."

As part of a three-year extension, a 60-cent raise on the journeyman rate will come on Jan. 9, 2012, and another one on March 11, 2013. A 70-cent raise will be awarded in the third and final year of the contract on March 10, 2014. Health care premiums will increase each year to $221 in the first year, $248 in the second and $278 in the third.

All qualified represented employees who are on the active payroll through Dec. 23 will receive a $1,000 ratification bonus, made in a separate check in lieu of a 2012 cost-of-living adjustment.

December 2, 2011

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