Teamsters members working at Marathon Petroleum’s (NYSE: MPC) Detroit refinery have gone on strike after months of pay- and safety-related negotiations with the company did not yield results, the company said on Wednesday.
“We are fully prepared and have implemented plans to continue safely operating the facility,” a Marathon spokesperson said in a statement.
Marathon Petroleum (NYSE: MPC) does not anticipate the strike will cause supply disruptions.
Workers called for an economic strike following a nine-month negotiation and mediation with the company to reach a new labor agreement. The prior contract expired in January.
Teamsters local 283 represents 273 workers at the Detroit refinery, 95% of whom authorized the strike, the union said.
Marathon didn’t immediately say how many people it employed at the refinery.
Marathon’s Detroit refinery has a crude oil refining capacity of 140,000 barrels per day, processing sweet and heavy sour crude oils into products such as gasoline and distillates.
(Source: Reuters)
Kevin Putnam is a financial journalist and editor based in New York. He specializes in editing news and analysis related to U.S. stock market.
