This Week:

• Ferdinand Piëch drives 1-litre car to Volkswagen's annual general meeting
  .
• Cadillac First Automotive Brand To Offer XM Satellite Radio On All 2003 Models
  .
• Mercedes-Benz Celebrates Successful First Quarter
  .
• Ford's Norfolk Assembly Plant Builds 7-Millionth Vehicle And Marks 77th Anniversary
  .
• March sales figures for Porsche in North America show an overall decline
  .
• UK Winners for BMW Architectural Competition
  . .
• Hyundai Motor Company Breaks Ground in Montgomery, Ala.
  .
• Delphi Launches New Line of Batteries for Commercial Vehicles
  .
• Valeo announces tentative agreement between Valeo Electrical Systems Inc. and Union Leadership
  .
• General Motors Earns $791 Million, Or $1.30 Per Share In The First Quarter, Excluding Special Items And Hughes
  .

© 1998 - 2002 Copyright & 
Disclaimer
Automotive Intelligence,
www.autointell.com
All Rights Reserved .
For questions please contact
editor@autointell.com  

News of April 17, 2002
.

Valeo announces tentative agreement between Valeo Electrical Systems Inc. and Union Leadership

Paris - Valeo announced that its US subsidiary, Valeo Electrical Systems Inc. (VESI) had reached a tentative agreement with the IUE-CWA Local 509 union leadership on amendments to the current labor contract. The agreement is subject to approval by bargaining unit employees, who are scheduled to vote on ratification on May 5.

VESI filed for voluntary reorganization under Chapter 11 of the US Bankruptcy Code on December 14, 2001 to protect its operations in the face of its difficult competitive situation. Both VESI and the Unions have agreed not to provide public comment on the details of the tentative agreement prior to ratification. If ratified, the agreement would represent an opportunity to secure a long-term future for VESI in Rochester (New York).

VESI manufactures automotive wiper and airflow systems, motors and other components in North America for sale to car and truck manufacturers, component suppliers and other customers. VESI's manufacturing operations are primarily located in a facility in Rochester.

(April 15, 2002)

[Homepage] [ News] [ Companies] [ Management] [ Publications] [ Events] [ Careers]
[Services] [Discussion] [ Guestbook] [ Search]