AdvanSix Hopewell South Employees Ratify New Comprehensive and Competitive Five-Year Agreement
08 Mai 2023 - 11:26PM
Business Wire
The AdvanSix Hopewell South bargaining unit, consisting of the
International Chemical Workers Union Council/the United Food and
Commercial Workers, Local 591-C, the International Brotherhood of
Electrical Workers, Local 666, the International Association of
Machinists and Aerospace Workers, Local No. 10, and the United
Association of Journeymen and Apprentices of the Plumbing and Pipe
Fitting Industry, Local 851, has informed AdvanSix (NYSE: ASIX)
that its employees have voted to ratify a new five-year collective
bargaining agreement that covers approximately 340 workers at the
Hopewell, Virginia site.
“I am pleased to welcome our Hopewell South employees back to
work,” said Erin Kane, President and CEO of AdvanSix. “This
comprehensive and competitive five-year contract provides fair and
equitable market-based wages and benefits that support our
employees and their families. We believe this contract will also
serve to improve attraction, retention and development of our
workforce that will support long-term sustainable growth and our
essential role of delivering the vital chemistries that are the
foundation of a diverse range of products that touch people’s
everyday lives.
Throughout the economic strike period, we continued to enable
safe, stable and sustainable operations with the support of our
contingency workforce. We thank the contingency workforce for their
dedication to ensure we safely delivered to our customers each and
every day with no disruption.”
The Hopewell South employees will report back to work on May 10,
2023.
About AdvanSix
AdvanSix is a diversified chemistry company that produces
essential materials for our customers in a wide variety of end
markets and applications that touch people’s lives. Our integrated
value chain of our five U.S.-based manufacturing facilities plays a
critical role in global supply chains and enables us to innovate
and deliver essential products for our customers across building
and construction, fertilizers, agrochemicals, plastics, solvents,
packaging, paints, coatings, adhesives, electronics and other end
markets. Guided by our core values of Safety, Integrity,
Accountability and Respect, AdvanSix strives to deliver
best-in-class customer experiences and differentiated products in
the industries of nylon solutions, chemical intermediates, and
plant nutrients. More information on AdvanSix can be found at
http://www.advansix.com.
Forward Looking Statements
This release contains certain statements that may be deemed
“forward-looking statements” within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended. All statements,
other than statements of historical fact, that address activities,
events or developments that our management intends, expects,
projects, believes or anticipates will or may occur in the future
are forward-looking statements. Forward-looking statements may be
identified by words such as "expect," "anticipate," "estimate,"
“outlook,” "project," "strategy," "intend," "plan," "target,"
"goal," "may," "will," "should" and "believe" and other variations
or similar terminology and expressions. Although we believe
forward-looking statements are based upon reasonable assumptions,
such statements involve known and unknown risks, uncertainties and
other factors, many of which are beyond our control and difficult
to predict, which may cause the actual results or performance of
the Company to be materially different from any future results or
performance expressed or implied by such forward-looking
statements. Such risks and uncertainties include, but are not
limited to: general economic and financial conditions in the U.S.
and globally, including the impact of the coronavirus (COVID-19)
pandemic and any resurgences; the potential effects of inflationary
pressures, labor market shortages and supply chain issues;
instability or volatility in financial markets or other unfavorable
economic or business conditions caused by geopolitical concerns,
including as a result of the conflict between Russia and Ukraine;
the effect on our customers’ demand for our products and our
suppliers’ ability to manufacture and deliver our raw materials,
including implications of reduced refinery utilization in the U.S.;
our ability to sell and provide our goods and services; the ability
of our customers to pay for our products; any closures of our and
our customers’ offices and facilities; risks associated with
increased phishing, compromised business emails and other
cybersecurity attacks and disruptions to our technology
infrastructure; risks associated with employees working remotely or
operating with a reduced workforce; risks associated with our
indebtedness including compliance with financial and restrictive
covenants, and our ability to access capital on reasonable terms,
at a reasonable cost, or at all, due to economic conditions or
otherwise; the impact of scheduled turnarounds and significant
unplanned downtime and interruptions of production or logistics
operations as a result of mechanical issues or other unanticipated
events such as fires, severe weather conditions, natural disasters,
pandemics and geopolitical conflicts and related events; price
fluctuations, cost increases and supply of raw materials; our
operations and growth projects requiring substantial capital;
growth rates and cyclicality of the industries we serve including
global changes in supply and demand; failure to develop and
commercialize new products or technologies; loss of significant
customer relationships; adverse trade and tax policies; extensive
environmental, health and safety laws that apply to our operations;
hazards associated with chemical manufacturing, storage and
transportation; litigation associated with chemical manufacturing
and our business operations generally; inability to acquire and
integrate businesses, assets, products or technologies; protection
of our intellectual property and proprietary information; prolonged
work stoppages as a result of labor difficulties or otherwise;
cybersecurity, data privacy incidents and disruptions to our
technology infrastructure; failure to maintain effective internal
controls; our ability to declare and pay quarterly cash dividends
and the amounts and timing of any future dividends; our ability to
repurchase our common stock and the amount and timing of any future
repurchases; disruptions in supply chain, transportation and
logistics; potential for uncertainty regarding qualification for
tax treatment of our spin-off; fluctuations in our stock price; and
changes in laws or regulations applicable to our business. You are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this release. Such
forward-looking statements are not guarantees of future
performance, and actual results, developments and business
decisions may differ from those envisaged by such forward-looking
statements. We identify the principal risks and uncertainties that
affect our performance in our filings with the Securities and
Exchange Commission (SEC), including the risk factors in Part 1,
Item 1A of our Annual Report on Form 10-K for the year ended
December 31, 2022, as updated in subsequent reports filed with the
SEC.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230508005711/en/
Media Janeen Lawlor (973) 526-1615
janeen.lawlor@advansix.com
Investors Adam Kressel (973) 526-1700
adam.kressel@advansix.com
AdvanSix (NYSE:ASIX)
Historical Stock Chart
Von Sep 2023 bis Okt 2023
AdvanSix (NYSE:ASIX)
Historical Stock Chart
Von Okt 2022 bis Okt 2023