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Media Relations Contact: Joanne Brigandi
Telephone: (609) 561-9000 x4240
November 9, 2004
South Jersey Industries Negotiates 4-Year Bargaining Unit Contracts
FOLSOM, N.J.
– South Jersey Industries announces the successful negotiation and ratification
of two separate contracts with union employees two months prior to the contracts’
expiration.
Employee members of IAM locals S76 and S95 worked in cooperation with management to modify the labor contracts. Employees of South Jersey Gas, SJI’s natural gas utility, and South Jersey Energy Service Plus, its appliance service and installation business, voted overwhelmingly to accept the new collective bargaining agreements which extend the current labor contracts to January 14, 2009.
The modified contracts provide security and certainty of health care and retiree benefits for the union’s members while providing market-based competitive wage increases ranging from 3% to 3.5% through the life of the agreement.
Changing the design of certain benefits will give SJI the ability to better manage rising health care and pension costs while continuing to provide premium benefits. The modified benefit packages continue to provide for health care, prescription and retirement.
Edward J. Graham, SJI’s president and CEO stated, “This is truly a win-win situation for everyone. The primary concerns of our employees were addressed as well as significant issues facing corporations today. The initiatives in the agreement will offset the rising cost of health care and pensions in 2005 and position us favorably for the next four years.”
South Jersey Industries (NYSE:SJI) is an energy services holding company for South Jersey Gas, South Jersey Energy, South Jersey Resources Group, South Jersey Energy Service Plus and Marina Energy. Visit http://www.sjindustries.com for more information about SJI and its subsidiaries.
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