OEMs
UAW Counteroffer to Ford Could Soon Lead to Deal: Report
Written by Laura Miller
October 25, 2023
The United Auto Workers (UAW) union and Ford could soon reach a tentative labor deal.
The union has reportedly presented Ford with a counteroffer, according to an Oct. 25 AP News article citing two anonymous sources familiar with the matter.
The article says the offer proposes a 25% general wage increase, compared to previous 23% offers from Ford, General Motors, and Stellantis. It also includes cost-of-living adjustments (COLA), the sources said.
Once a tentative agreement is reached with one of the Detroit-area “Big Three,” it will likely set the precedent for agreements with the other automakers, according to the article.
“Negotiations continue,” a Ford spokesman told SMU in an email.
At the time of this article’s publication, the UAW had returned SMU’s request for comment.
Earlier this week, the UAW expanded its stand-up strike, hitting the largest plants of GM and Stellantis. It last expanded the strike against Ford unexpectedly on the evening of Wednesday, Oct. 11, with members striking at Ford’s Kentucky Truck Plant – Ford’s largest one of the biggest auto factories in the world.
Laura Miller
Read more from Laura MillerLatest in OEMs
HVAC shipments gained more ground in June
Shipments of heating and cooling equipment moved higher in June, according to the latest data released from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). June shipments increased 10% month on month (m/m) to 2.16 million units. This was a 7% boost over the same month last year. June represents the best monthly shipment rate year-to-date, […]
Galvanized buyers see price slide continuing in near term
Galvanized prices have tumbled from a month ago, and many market participants expect that trend to continue in July.
HVAC equipment shipments slip in April
Shipments of heating and cooling equipment receded from March to April according to the latest data released from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).
Nucor to buy commercial door manufacturer Rytec for $565M
Nucor Corp. is adding another commercial door manufacturer to its growing portfolio of downstream companies. Charlotte, N.C.-based Nucor announced on Monday that it has agreed to purchase Rytec Corp. for $565 million in cash. Rytec produces high-speed, high-performance commercial doors at its two Wisconsin manufacturing facilities. The company’s rolling doors are used in warehouses, manufacturing […]
Galvanized buyers see prices flat to down next month
Prices for galvanized products have fallen from last month, and many market participants expect tags to continue their descent or at best remain flat in the month ahead.