July 9, 2010 / 8:31 PM / in 7 years

UPDATE 1-Union members ratify new contracts with Cameco

* USW members at Port Hope ratify 3-yr labor deals

* More than 90 pct of members in 2 locals back deal

TORONTO, July 9 (Reuters) - United Steelworkers members at Cameco Corp’s CCO.TO conversion facility in Port Hope, Ontario, have voted in favor of new three-year contracts with the uranium producer.

The contracts will give members of Locals 13173 and 8562 a C$2,000 signing bonus and wage increases of 2 percent in the contracts’ second year and 3 per cent in the third year.

The agreement also provides improvements to benefits, the USW said in a statement on Friday.

More than 90 percent of the votes cast by members of the two locals were in favor of the new contracts. (Reporting by Euan Rocha; editing by Rob Wilson)

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