UAW in accord with Chrysler, Fiat, U.S. government
The United Auto Workers said on Sunday the union had reached agreement with Chrysler LLC, Italian automaker Fiat SpA
The agreement is subject to a ratification by UAW members that must be completed on Wednesday and meets requirements laid out by the U.S. Treasury as conditions to emergency loans that Chrysler received, the union said in a statement.
The agreement with the UAW follows an announcement that Canadian Auto Workers members had ratified a concessionary contract with Chrysler.
The agreements with the unions leaves negotiations with Chrysler lenders as one of the chief remaining obstacles for the automaker to meet a government imposed April 30 deadline.
The Obama administration gave Chrysler -- 80 percent controlled by private-equity firm Cerberus Capital Management LP
(Reporting by Nick Carey and David Bailey; Editing by Diane Craft)
© Copyright Thomson Reuters 2024. All rights reserved.