Employees at W.C.I. Steel in Warren say are a bit more relieved with the news of the sale of the steel mill after meetings today with its new Russian-based owner.  The workforce came away impressed, mostly because of the company's long-term financial commitment to steel production.  Union workers tell me there was a lot of uncertainty coming into Wednesday's meeting, but after several hours of talks with new ownership.  They're breathing a sigh of relief.

Ernie Galgozy, Financial Secretary, 20 yr. Employee;  "THERE'S BEEN A LOT OF ANTICIPATION, A LOT OF ANXIETY. RUMORS HAVE BEEN AROUND AND NOW THIS KINDA OF PUT IT ALL INTO A FOCUS. PUT IT ALL TO A POINT WHERE WE CAN UNDERSTAND WHAT WAS GOING ON."

Union president Ed Machingo says Severstal will be operated by a management team based in Dearborn Michigan.  In the past W.C.I. had been owned and operated by hedge funds, shareholders, and bond-holders, much to the dismay of management.

Ed Machingo U.S.W.A. 1375 President;  "THE MOST IMPORTANT THING..SOMETHING THAT WE HAVEN'T BEEN USE TO OR HAVEN'T BEEN IN SOMETIME GOING BACK TO THE REPUBLIC STEEL DAYS IS THAT WE'RE GOING TO BE OPERATED BY STEEL PEOPLE."

The two company's came to terms on Friday on a deal worth 1-hundred forty million dollars. The deal still needs approval, that's expected to happen later this summer.  The membership knew the WCI sale was in the works for some time.

Anthony Sabo, Vice President;  "PROBABLY THE BEST THING OUT THERE FOR US AT THE TIME. I THINK WE'RE ALL OPTIMISTIC. IT'S GONNA BE A GOOD THING."

Any plans for improvement to the facility or equipment are unknown at this time. We should know more when ownership returns in July.