Tentative Labor Contract Reached at Honeywell’s Uranium Conversion Plant

Nuclear Street reported that a tentative deal has been reached at the Honeywell International Inc. (NYSE:HON) uranium conversion plant in Metropolis, Illinois. The prolonged lock-out of United Steelworkers Local 669 workers began August 2, 2014 after a three-year contract expired, but it may be coming to an end according to the union, the company and federal mediators.

As quoted in the market news:

Workers have been locked out since August 2, 2014, which is when a three-year contract expired. But federal mediators and the company said on Saturday that a tentative deal had been reached. Company spokesman Peter Dalpe said that the union had indicated it would put a new contract up for a vote on either Wednesday or Thursday of this week.

The Honeywell production facility is the country’s only plant that converts uranium oxide into uranium hexafluoride, which is commonly known as “hex” and is used in the uranium enrichment process required to make fuel for nuclear power plants.

The U.S. Federal Mediation and Conciliation Service also announced a tentative deal had been reached. “Working under the auspices of FMCS mediators, the union and employer reached a tentative agreement after many hours of intense talks,” the federal agency said in a statement.

Click here to read the full Nuclear Street report.