Calgon Carbon Corp. reached agreement on a three-year labor contract with a unit of Local 5052 of the United Steelworkers of America, which represents approximately 60 employees at the company's Neville Island, Pa., plant. The contract is retroactive to Feb. 1, 2002 and will expire on Feb. 1, 2005. It provides for wage and benefit improvements over its term and includes a performance-based compensation opportunity.
Commenting on the contract, Jim Cederna, Calgon Carbon's chairman and chief executive officer, said, "We are very pleased that the workers at our Neville Island plant have agreed to be partially compensated based on their performance. Eighty percent of our employees worldwide, and 100 percent in the Pittsburgh area, are now included in a pay-for-performance compensation structure. Our goal is to achieve a 100 percent rate worldwide in 2002."
Cederna continued, "Performance-based pay is a win/win for our employees and the company. It gives our workers the opportunity to significantly increase their compensation and can also accelerate the company's plan to achieve higher efficiencies and lower plant operating costs.
Performance-based pay also promotes trust and teamwork, the corporate values that drive our company's financial success. This contract increases our confidence that our financial performance in 2002 will improve over 2001 in spite of the soft global economy."
Source: Calgon Carbon Corp.
