Visteon Announces Completion of Supplemental Agreement Negotiations With UAW

Visteon Corporation announced a tentative agreement on a Visteon Supplemental Agreement with the United Auto Workers for future hires 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."

600450 Visteon Announces Completion of Supplemental Agreement Negotiations With UAW
Date: 5 May 2004
Source: Visteon

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