Aker Philadelphia Shipyard Announces Ratification of Four Year Collective Bargaining Agreement
Aker Philadelphia Shipyard, Inc. (APSI), the sole operating subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), announced today that a new four year collective bargaining agreement has been ratified by the Philadelphia Metal Trades Council (PMTC). The PMTC is the exclusive bargaining representative for production and maintenance employees at APSI and consists of ten unions.
Mike Giantomaso, Aker Philadelphia Shipyard Vice President of Human Resources remarked, “We are pleased to have successfully ratified this agreement and very proud to continue our partnership with the PMTC. This contract supports our company’s vision of being the leading U.S. commercial shipyard and underscores our objective of being a preferred employer in our communities.”
President of the Philadelphia Metal Trades Union, Lou Agre, commented “This contract ratification is another example of successful collaboration between union and management, and a clear example of how cooperation keeps organizations moving forward.”
Aker Philadelphia Shipyard is a leading U.S. commercial shipyard constructing vessels for operation in the Jones Act market. It possesses a state-of-the-art shipbuilding facility and has earned a reputation as the preferred provider of oceangoing merchant vessels with a track record of delivering quality ships. Aker Philadelphia Shipyard is listed on the Oslo Stock Exchange and is majority-owned by Converto Capital Fund, which in turn is majority-owned by Aker ASA. Aker is a Norwegian industrial investment company that creates value through active ownership. Aker's investment portfolio is concentrated on key Norwegian industries that are international in scope: oil and gas, fisheries and biotechnology, and marine assets. Aker's industrial holdings comprise ownership interests in Aker Solutions, Kvaerner, Det norske oljeselskap, Aker BioMarine, Ocean Yield and Havfisk.