Haynes International, Inc. Announces Ratification of Labor Agreement

[Omaha Steve]

http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20070627006223&newsLang=en

June 27, 2007 05:28 PM Eastern Daylight Time

Haynes International, Inc. Announces Ratification of Labor Agreement

KOKOMO, Ind.--(BUSINESS WIRE)--Haynes International, Inc. (Nasdaq:HAYN) announced today that membership of the United Steelworkers Local 2958 (USW) has ratified a three-year agreement covering approximately 514 employees at the Company’s Kokomo, Indiana plant and the Lebanon, Indiana service center. The new agreement succeeded an existing agreement that ran through June 11, 2007 and which was subsequently extended through June 30.

“We are very pleased with the outcome of the ratification vote,” said Francis J. Petro, President and Chief Executive Officer of the Company. “We believe that we have entered into a fair and balanced agreement that builds on our recent business improvements and enables us to continue to provide top-level service to our customers and to retain our position as a preeminent supplier of high-performance alloys.”

Highlights of the agreement include a cash bonus of $4,000 for covered employees, wage increases in 2007, 2008 and 2009, increased scheduling flexibility, closing the pension plan to new hires, and increasing the pension multiplier for plan participants.

About Haynes International

Haynes International, Inc. is a leading developer, manufacturer and marketer of technologically advanced, high-performance alloys, primarily for use in the aerospace and chemical processing industries.