News Archive


ArcelorMittal, Nippon Steel to buy Thyssen U.S. plant for $1.55 billion


FRANKFURT (Reuters) – Arcelormittal (ISPA.AS) and Nippon Steel Sumitomo Metal Corp (5401.T) agreed to buy ThyssenKrupp’s (TKAG.DE) steel plant in the United States for $1.55 billion, ArcelorMittal said late on Friday.

The transaction will be financed through a combination of equity and debt at the joint venture level and will yield $60 million of annual savings, it said.

The deal includes a six-year agreement to purchase 2 million tons of steel slab per year from ThyssenKrupp’s CSA steel mill in Brazil.

(Reporting by Maria Sheahan; Editing by Jonathan Gould)

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/SXLc40gl2cc/story01.htm

ArcelorMittal, Nippon Steel to buy Thyssen U.S. plant for $1.55 billion


FRANKFURT (Reuters) – Arcelormittal (ISPA.AS) and Nippon Steel Sumitomo Metal Corp (5401.T) agreed to buy ThyssenKrupp’s (TKAG.DE) steel plant in the United States for $1.55 billion, ArcelorMittal said late on Friday.

The transaction will be financed through a combination of equity and debt at the joint venture level and will yield $60 million of annual savings, it said.

The deal includes a six-year agreement to purchase 2 million tons of steel slab per year from ThyssenKrupp’s CSA steel mill in Brazil.

(Reporting by Maria Sheahan; Editing by Jonathan Gould)

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/SXLc40gl2cc/story01.htm

ArcelorMittal, Nippon Steel to buy Thyssen U.S. plant for $1.55 billion


FRANKFURT (Reuters) – Arcelormittal (ISPA.AS) and Nippon Steel Sumitomo Metal Corp (5401.T) agreed to buy ThyssenKrupp’s (TKAG.DE) steel plant in the United States for $1.55 billion, ArcelorMittal said late on Friday.

The transaction will be financed through a combination of equity and debt at the joint venture level and will yield $60 million of annual savings, it said.

The deal includes a six-year agreement to purchase 2 million tons of steel slab per year from ThyssenKrupp’s CSA steel mill in Brazil.

(Reporting by Maria Sheahan; Editing by Jonathan Gould)

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/SXLc40gl2cc/story01.htm

WestJet pilots reject tentative deal; strike not expected


TORONTO (Reuters) – Pilots at WestJet Airlines Ltd (WJA.TO) turned down a tentative agreement with the company, Canada’s second largest airline said on Friday, but the airline said no labor disruption was expected.

The growing, Calgary-based low-cost carrier is not unionized. WestJet pilots, represented by the non-union group WestJet Pilots Association, voted against the deal by a 58.7 percent margin, with 96 percent of pilots casting a vote, the airline said in a statement.

“There is no chance of a labor disruption of any kind,” said WestJet spokesman Robert Palmer in an email.

“Our pilots, like all WestJetters, have a vested interest in the health and stability of the company, and it will be business as usual as we head toward the busy Christmas travel season.”

WestJet did not disclose details of the rejected proposal and efforts to contact the pilot’s association were not successful.

WestJet’s chief executive officer Gregg Saretsky said the airline was disappointed with the results and that it would continue to work toward a new agreement. The current deal remains in place until a new one is reached, the airline said.

WestJet, which launched a regional carrier this summer and announced its first trans-Atlantic flight for next summer, saw its stock finish a modest 0.2 percent higher at C$27.60 on the Toronto Stock Exchange.

(Reporting by Solarina Ho; Editing by Bob Burgdorfer)

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/zbvXNF9hrEc/story01.htm

WestJet pilots reject tentative deal; strike not expected


TORONTO (Reuters) – Pilots at WestJet Airlines Ltd (WJA.TO) turned down a tentative agreement with the company, Canada’s second largest airline said on Friday, but the airline said no labor disruption was expected.

The growing, Calgary-based low-cost carrier is not unionized. WestJet pilots, represented by the non-union group WestJet Pilots Association, voted against the deal by a 58.7 percent margin, with 96 percent of pilots casting a vote, the airline said in a statement.

“There is no chance of a labor disruption of any kind,” said WestJet spokesman Robert Palmer in an email.

“Our pilots, like all WestJetters, have a vested interest in the health and stability of the company, and it will be business as usual as we head toward the busy Christmas travel season.”

WestJet did not disclose details of the rejected proposal and efforts to contact the pilot’s association were not successful.

WestJet’s chief executive officer Gregg Saretsky said the airline was disappointed with the results and that it would continue to work toward a new agreement. The current deal remains in place until a new one is reached, the airline said.

WestJet, which launched a regional carrier this summer and announced its first trans-Atlantic flight for next summer, saw its stock finish a modest 0.2 percent higher at C$27.60 on the Toronto Stock Exchange.

(Reporting by Solarina Ho; Editing by Bob Burgdorfer)

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/zbvXNF9hrEc/story01.htm

WestJet pilots reject tentative deal; strike not expected


TORONTO (Reuters) – Pilots at WestJet Airlines Ltd (WJA.TO) turned down a tentative agreement with the company, Canada’s second largest airline said on Friday, but the airline said no labor disruption was expected.

The growing, Calgary-based low-cost carrier is not unionized. WestJet pilots, represented by the non-union group WestJet Pilots Association, voted against the deal by a 58.7 percent margin, with 96 percent of pilots casting a vote, the airline said in a statement.

“There is no chance of a labor disruption of any kind,” said WestJet spokesman Robert Palmer in an email.

“Our pilots, like all WestJetters, have a vested interest in the health and stability of the company, and it will be business as usual as we head toward the busy Christmas travel season.”

WestJet did not disclose details of the rejected proposal and efforts to contact the pilot’s association were not successful.

WestJet’s chief executive officer Gregg Saretsky said the airline was disappointed with the results and that it would continue to work toward a new agreement. The current deal remains in place until a new one is reached, the airline said.

WestJet, which launched a regional carrier this summer and announced its first trans-Atlantic flight for next summer, saw its stock finish a modest 0.2 percent higher at C$27.60 on the Toronto Stock Exchange.

(Reporting by Solarina Ho; Editing by Bob Burgdorfer)

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/zbvXNF9hrEc/story01.htm

WestJet pilots reject tentative deal; strike not expected


TORONTO (Reuters) – Pilots at WestJet Airlines Ltd (WJA.TO) turned down a tentative agreement with the company, Canada’s second largest airline said on Friday, but the airline said no labor disruption was expected.

The growing, Calgary-based low-cost carrier is not unionized. WestJet pilots, represented by the non-union group WestJet Pilots Association, voted against the deal by a 58.7 percent margin, with 96 percent of pilots casting a vote, the airline said in a statement.

“There is no chance of a labor disruption of any kind,” said WestJet spokesman Robert Palmer in an email.

“Our pilots, like all WestJetters, have a vested interest in the health and stability of the company, and it will be business as usual as we head toward the busy Christmas travel season.”

WestJet did not disclose details of the rejected proposal and efforts to contact the pilot’s association were not successful.

WestJet’s chief executive officer Gregg Saretsky said the airline was disappointed with the results and that it would continue to work toward a new agreement. The current deal remains in place until a new one is reached, the airline said.

WestJet, which launched a regional carrier this summer and announced its first trans-Atlantic flight for next summer, saw its stock finish a modest 0.2 percent higher at C$27.60 on the Toronto Stock Exchange.

(Reporting by Solarina Ho; Editing by Bob Burgdorfer)

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/zbvXNF9hrEc/story01.htm

WestJet pilots reject tentative deal; strike not expected


TORONTO (Reuters) – Pilots at WestJet Airlines Ltd (WJA.TO) turned down a tentative agreement with the company, Canada’s second largest airline said on Friday, but the airline said no labor disruption was expected.

The growing, Calgary-based low-cost carrier is not unionized. WestJet pilots, represented by the non-union group WestJet Pilots Association, voted against the deal by a 58.7 percent margin, with 96 percent of pilots casting a vote, the airline said in a statement.

“There is no chance of a labor disruption of any kind,” said WestJet spokesman Robert Palmer in an email.

“Our pilots, like all WestJetters, have a vested interest in the health and stability of the company, and it will be business as usual as we head toward the busy Christmas travel season.”

WestJet did not disclose details of the rejected proposal and efforts to contact the pilot’s association were not successful.

WestJet’s chief executive officer Gregg Saretsky said the airline was disappointed with the results and that it would continue to work toward a new agreement. The current deal remains in place until a new one is reached, the airline said.

WestJet, which launched a regional carrier this summer and announced its first trans-Atlantic flight for next summer, saw its stock finish a modest 0.2 percent higher at C$27.60 on the Toronto Stock Exchange.

(Reporting by Solarina Ho; Editing by Bob Burgdorfer)

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/zbvXNF9hrEc/story01.htm

WestJet pilots reject tentative deal; strike not expected


TORONTO (Reuters) – Pilots at WestJet Airlines Ltd (WJA.TO) turned down a tentative agreement with the company, Canada’s second largest airline said on Friday, but the airline said no labor disruption was expected.

The growing, Calgary-based low-cost carrier is not unionized. WestJet pilots, represented by the non-union group WestJet Pilots Association, voted against the deal by a 58.7 percent margin, with 96 percent of pilots casting a vote, the airline said in a statement.

“There is no chance of a labor disruption of any kind,” said WestJet spokesman Robert Palmer in an email.

“Our pilots, like all WestJetters, have a vested interest in the health and stability of the company, and it will be business as usual as we head toward the busy Christmas travel season.”

WestJet did not disclose details of the rejected proposal and efforts to contact the pilot’s association were not successful.

WestJet’s chief executive officer Gregg Saretsky said the airline was disappointed with the results and that it would continue to work toward a new agreement. The current deal remains in place until a new one is reached, the airline said.

WestJet, which launched a regional carrier this summer and announced its first trans-Atlantic flight for next summer, saw its stock finish a modest 0.2 percent higher at C$27.60 on the Toronto Stock Exchange.

(Reporting by Solarina Ho; Editing by Bob Burgdorfer)

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/zbvXNF9hrEc/story01.htm