American Steamship Co. to restart operations on the Great Lakes as AMO union employees return to work following strike over expiration of labor contract; parties agree on extension of contract while talks continue on new long-term deal
August 5, 2011
– American Steamship Company (“ASC”), a subsidiary of GATX Corporation (NYSE:GMT) today announced that it will restart vessel operation as the American Maritime Officers union (“AMO”) employees return to work. The AMO employees went on strike following the expiration of their labor contract on August 1, 2011. ASC and the AMO have agreed to extend the recently expired contract through 2011 and potentially through 2012 if needed, during which time the two parties will negotiate a new long-term labor agreement.
David W. Foster, president of ASC, said, “We are pleased that ASC and the AMO have agreed on a path forward. We will commence operations on the Great Lakes as soon as possible. ASC is committed to minimizing disruption for our customers, and the AMO has agreed to work with us to ensure a prompt and efficient restart of operations. It remains our goal to reach a fair and equitable long-term agreement with our licensed crew members that allows ASC to become more competitive on the Great Lakes.”
GATX Corporation (NYSE:GMT) provides leasing and related services to customers operating rail, marine and other targeted assets. GATX is a leader in leasing transportation assets and controls one of the largest railcar fleets in the world. Applying over a century of operating experience and strong market and asset expertise, GATX provides quality assets and services to customers worldwide. GATX has been headquartered in Chicago, Illinois since its founding in 1898 and has traded on the New York Stock Exchange since 1916. For more information, visit the Company’s website at www.gatx.com.
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