Our USW Local 235A leaders met last week with Sherwin Alumina management to continue bargaining. During that meeting, the company presented us with a WARN notice saying that they were considering permanently closing operations as of March 31.
The company explained that it had been unable to negotiate a new power rate with Gregory Power Partners (GPP), which was a requirement of the proposed sale to Glencore affiliate Corpus Christi Alumina. The company said that in order for the plant to survive, the GPP contract had to be modified.
The WARN notice explained that as a result of this development, its lenders, another Glencore affiliate, had withdrawn their loan and that Corpus Christi Alumina plans to withdraw its bid. Sherwin stated that it does not plan to immediately suspend its operations at this time and hopes to identify alternative financing and bidders.
The company announced in bankruptcy court on February 10 that it would continue negotiating with GPP. In the meantime, we remain willing to work with any buyer that is willing to bargain fairly with our union, which Sherwin has been unwilling to do during the lockout. Still, we need to prepare for all possibilities, including a permanent closure. If that were to occur, we would begin effects bargaining. As always, our goal will be to do everything we can to maximize the benefits that our members and retirees have coming to them.
We will continue to keep you up to date on new developments, both at the bargaining table and in court.