Workers at Olin plant in Alton approve new contract
East Alton, Ill. – A new contract takes effect today for about 3,000 munitions and metals makers at Olin Corporation in East Alton, Ill.
The workers agreed to a new contract that give them at least 3% pay raises in each of the next three years.
The deal replaces contracts in effect since December 2000.
Workers will get a 3.5% pay increase in the first year of the contract. They'll then get three percent in each of the next two years.
The workers will also pony up more for health insurance - about $10-20 more each month during the first year.
They're then be no change in the secon year, and rates will increase $5-27 a month in the third year.
Workers also will receive a $1,500 signing bonus.