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Visteon deal with UAW on new employee wages

Auto components and systems supplier Visteon Corporation announced 29 April 2004 that it had reached a tentative agreement on a Visteon Supplemental Agreement with the United Auto Workers for newly hi…

Auto components and systems supplier Visteon Corporation announced 29 April 2004 that it had reached a tentative agreement on a Visteon Supplemental Agreement with the United Auto Workers for newly hired employees at its UAW Master Agreement facilities. The seven-year agreement will allow Visteon to hire new workers at wage and benefit levels significantly below current Ford-UAW Master Agreement rates. “We are pleased to reach an agreement that helps improve Visteon“s competitive position and one that is fair to future UAW-represented employees,” said Michael F. Johnston, Visteon chief operating officer and president. “Visteon is driven to deliver high-quality products to our customers at competitive prices. As a result of transitioning to a more competitive cost structure in our UAW facilities, we will be better positioned to compete for and win new business.” Visteon will work with the UAW toward implementation of the new Supplemental Agreement at its 15 UAW Master facilities, which are located in the United States.

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