Business Services Industry
Forbes, Minn., Mining Firm Extends Labor Contract, Considers Acquisition.
Knight Ridder/Tribune Business News, August, 1999 by Duluth News-Tribune, Minn.
Knight Ridder/Tribune Business News
Aug. 3 -- FORBES, Minn. -- EVTAC Mining Co. and the United Steelworkers of America union have extended the current labor contract covering hourly workers until Aug. 16, EVTAC officials said Monday.
The contract is being extended while EVTAC owners discuss a possible acquisition by Minnesota Iron & Steel Co.(MIS), said Chuck Williams, EVTAC vice president of internal and external affairs.
EVTAC Mining Co. operates a taconite mine at Eveleth and processing plant at Forbes.
MIS, based in Nashwauk, wants to develop a $1.2 billion steelmaking plant. It has expressed interest in acquiring the EVTAC processing plant at Forbes and made an acquisition proposal to EVTAC owners about two weeks ago.
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