October 11, 2007

Chrysler and UAW reach tentative agreement to end strike

Auburn Hills, Michigan – After going on strike at 11 am. Wednesday, the United Auto Workers union reached a tentative agreement with Chrysler LLC later the same day, ending the short strike. The agreement is subject to UAW member ratification.

“This agreement was made possible because UAW workers made it clear to Chrysler that we needed an agreement that rewards the contributions they have made to the success of this company,” said UAW President Ron Gettelfinger.

The quick end to the strike ensures that thousands of Canadian CAW Chrysler workers will remain on the job. A shortage of parts could have shut down Chrysler plants in Windsor and Brampton, Ontario.

The tentative agreement includes a memorandum of understanding to establish an independent retiree health care trust, as well as other changes to the national agreement. Following ratification, implementation of the memorandum of understanding is subject to approval by the courts and satisfactory review of accounting treatment with the Securities Exchange Commission.

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