According to a USW press release, USW members working for contractors representing forest industrial relations have ratified the agreement at 93%. This press release contains statements that may represent forward-looking statements under applicable securities laws. Readers are cautioned not to improperly rely on forward-looking statements. All statements mentioned above, in the absence of historical facts, may be forward-looking statements and may be identified by the use of words such as “will,” “may,” “expect” and similar references to future periods. While such statements reflect management`s current beliefs, expectations and reasonable assumptions, it is not possible to guarantee that forward-looking statements are correct and that actual performance or actual results may vary materially. There are many factors that could lead to significant differences between our actual results or our performance, including strike activities, the inability to predict the results of such activity, the ratification of a preliminary agreement, the date when it may be time to resolve a dispute, a change in the company`s financial position, general economic conditions and other factors mentioned in the “Risks and Uncertainties” section of our MD-A in our February 12 Annual Report. , 2019. URGENT ACTION IS REQUIRED FROM ETC LOCAL 1-1937 MEMBERS United Steelworkers Local 1-1937 (ETC) has ratified its agreement with Western Forest Products, with workers voting 81.9% in favour of its adoption. Western Forest Products Inc. announced that its hourly employees, represented by United Steelworkers Local 1-1937 (ETC), have voted in favour of the interim agreement to replace the collective agreement that expires on June 14, 2019. The new five-year collective agreement will enter into force on June 15, 2019 and expire on June 14, 2024 and provides for general wage increases as follows: According to a WFP press release, the new five-year collective agreement will enter into force on June 15, 2019 and expire on June 14, 2024.
With regard to wages, the contract offers an increase of 3 per cent in the first year, a two per cent increase in years two and three, a 3 per cent increase in the fourth year and a 2.5 per cent increase in the fifth year.