U.S. REPORT ASARCO signs new wage deal

New York-based metals producer Asarco (NYSE) has signed a new 3-year wage deal with the United Steelworkers union which represents 130 employees at the company’s Glover, Miss., smelter and refinery. The settlement provides for a US$2-per-hour increase over the life of a contract which is effective from April 1 and expires March 31, 1994. It also includes improvements in pension benefits, life insurance, weekly sickness and accident and accidental death and dismemberment benefits.

Asarco, which reported sales of US$2.2 billion last year, is a leading producer of nonferrous metals including copper, silver, lead, zinc and gold. The company also produces specialty chemicals, minerals and other products.

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