Company: ZEUS
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001437749-25-004742
Chunk: 104

Company: OLYMPIC STEEL INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1
Chunk 104
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 2024, we employed approximately 2,163 people. Approximately 229 of the hourly plant personnel are represented by seven separate collective bargaining units. The table below shows the expiration dates of the collective bargaining agreements.

      Facility 
      Expiration date 

      Locust, North Carolina 
      March 4, 2025 

      St. Paul, Minnesota 
      May 25, 2025 

      Romeoville, Illinois 
      May 31, 2025 

      Minneapolis (coil), Minnesota 
      September 30, 2025 

      Indianapolis, Indiana 
      January 29, 2026 

      Minneapolis (plate), Minnesota 
      March 31, 2027 

     Hammond, Indiana
     November 30, 2029

The Locust, North Carolina union agreement is set to expire on March 4, 2025. The employees covered by this union agreement continue to work as the new contract is negotiated. We have historically been successful in negotiating renewals to expiring agreements without any material disruptions of operating activities and we do not anticipate any material disruptions prior to ratification of the new agreement. 

We have never experienced a work stoppage and we believe that our relationship with employees is strong. However, any prolonged work stoppages by our personnel represented by collective bargaining units could have a material adverse impact on our business, financial condition, results of operations and cash flows.

     11

Environmental

Olympic Steel is a metals service center. We warehouse, process, and distribute metal products; however, we are not a metals producer (steel mill). As such, we do not have the same potential to introduce pollutants into the water or the air that occur during some other metals manufacturing processes. Instead, we are part of the supply chain that makes products out of metal. We buy metal products in bulk from metal producers. Then, our role as a metals service center is to break that bulk supply into smaller quantities to sell to our customers. We also support OEMs and other customers by cutting, shaping, and otherwise processing carbon steel, stainless steel and aluminum. 

While we do not make metals, we do recycle scrap material that mills re-use in their process to make raw materials. The work we do to process metals for our customers does not distribute pollutants into the water supply, nor do we do any mining or extract materials from the ground. While we believe our carbon footprint is small, we are still taking steps to further reduce our overall