End of Strike Restarts Operations for American Steamship Company in Great Lakes

American Steamship Company ("ASC"), a subsidiary of GATX Corporation 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."

 

Source: MarketWatch