The lockout of 135 union employees at Honeywell's (NYSE:HON) uranium conversion plant in Illinois looks like it will extend past a month as the two sides negotiate on issues such as subcontractors, pay, healthcare benefits and work rules.
The plant converts uranium oxide into uranium hexafluoride, which is then enriched to be used as fuel in nuclear power plants. Honeywell is continuing to operate the plant with the remaining employees who are non-union.
The company says it is committed to bargaining in good faith, but is concerned about the plant's competitiveness. The facility accrued $300M in operating losses over the past 10 years and is just starting to break even.