Pittsburgh Brewing to emerge from bankruptcy
PITTSBURGH (AP) _ Union workers approved a contract with Pittsburgh Brewing Co. on Sunday, paving the way for the brewery to emerge from bankruptcy.
The union voted 66-52 to accept the three-year deal if prospective owner Pittsburgh Brewing Acquisition takes over. Details were not immediately provided.
''It was clear that their focus is to keep the brewery viable,'' Tim Hickman, spokesman for Pittsburgh Brewing Acquisition, said in a statement. ''I believe we are on the same page — we want the bankruptcy to be history and we want to concentrate on the future.''
''It's definitely a big step,'' said Ken Ream, of the International Union of Electrical Workers-Communications Workers of America. ''There's a lot of other bridges to cross. But if we did not have an agreement, my guess is, the brewery would not survive.''
Pittsburgh Brewing Acquisition hopes to take over the brewer of Iron City and other beers in March.
''If they take over, they will accept this contract,'' Ream said.
The acquisition group, led by private equity fund manager John Milne of Westport, Conn., came forward in December with plans to revive the brewery. Milne said his group would spend $1 million initially to jump-start its Iron City and IC Light brands. More would be spent on capital improvements.