ALLENTON, WI (WTAQ) - Union employees at Maysteel in Allenton are planning a strike this weekend.

That’s after about 300 members of the International Association of Machinists and Aerospace Workers voted down the company’s third offer for a new contract.

The union says it includes no pay raises – higher employee costs for health insurance – and reduced vacations and holiday time. Union leaders say the workers have made concessions while their bosses got bonuses and pay raises.

The two previous offers had included pay cuts for the rank and file.

Maysteel officials say they want to prevent a strike. But they’re ready to bring in replacements or move work to its other plants.