Sterling Chemicals Announces Strike By Collective Bargaining Unit
04 Mai 2004 - 11:39PM
PR Newswire (US)
Sterling Chemicals Announces Strike By Collective Bargaining Unit
HOUSTON, May 4 /PRNewswire-FirstCall/ -- STERLING CHEMICALS, INC.
(BULLETIN BOARD: SCHI) announced that its workers represented by
The Texas City Metals Trade Council went on strike at 10:30 a.m.
Monday, May 3, 2004. The Texas City Metals Trade Council, which
represents the Company's hourly workers at its Texas City, Texas
manufacturing facilities, ordered union members to walk off the job
after rejecting the Company's final and concluding offer for a new
collective bargaining agreement. Including contract workers, over
500 people work at the site, with approximately 180 of those people
being represented by The Texas City Metals Trade Council. The
Company has successfully taken over the operations of the plant and
expects to be able operate the facilities and supply its customers
without interruption during the strike. Richard K. Crump,
Sterling's President and Chief Executive Officer, said "We are very
disappointed that The Texas City Metals Trade Council has decided
to take this action. In the meantime, we are continuing to operate
all of our manufacturing facilities with our salaried workforce,
supplemented with contract laborers. We are hopeful that
negotiations will resume quickly and that we will be able to enter
into a new collective bargaining agreement with our hourly work
force in the near future." Based in Houston, Texas, Sterling
Chemicals, Inc. manufactures a variety of petrochemical products at
its facilities in Texas City, Texas. Statements in this press
release that contain "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
include, but are not limited to, statements concerning the
prospects for arriving at a new union contract and the ability to
operate Sterling's manufacturing facilities during the strike. Such
statements are inherently subject to a variety of risks and
uncertainties that could cause actual results to differ materially
from those anticipated or projected. A discussion of the risk
factors that could impact these areas and Sterling's overall
business and financial performance can be found in Sterling's
filings with the Securities and Exchange Commission, including
Sterling's Annual Report on Form 10-K. Investors and analysts
should not place undue reliance on forward-looking statements. Each
forward-looking statement speaks only as of the date of this press
release, and Sterling undertakes no obligation to publicly update
or revise any forward-looking statements. Copies of Sterling's most
recent Annual Report on Form 10-K are posted on, or may be accessed
through, Sterling's website at http://www.sterlingchemicals.com/ .
DATASOURCE: Sterling Chemicals, Inc. CONTACT: Paul Vanderhoven of
Sterling Chemicals, Inc., +1-713-654-9549 Web site:
http://www.sterlingchemicals.com/
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