Caterpillar, UAW Tentatively Agree to New, Six-Year Labor Deal
March 1, 2023
The United Autoworkers (UAW) union and Caterpillar have reached a tentative agreement on a new, six-year labor contract.
The development came ahead of the expiration of a prior contract on March 1, according to both parties.
The tentative deal won’t go into effect unless UAW members vote to ratify it.
“The current agreement will be extended until the voting is complete,” Caterpillar said. “We will communicate the results as soon as they become available.”
The UAW said in a statement that members at four locals in Illinois and Pennsylvania would review the agreement and vote at upcoming ratification meetings.
The union said no details would be publicly released and no further statements provided until after those meetings.
The UAW and the Irving, Texas-based heavy equipment maker had been negotiating toward a new deal since Jan. 5.
By Ethan Bernard, ethan@steelmarketupdate.com