DP&L And Local 175 Reach Labor Agreement.Business Editors DAYTON, Ohio--(BUSINESS WIRE)--Aug. 15, 2000 The Dayton Power and Light Company (DP&L) (NYSE NYSE See: New York Stock Exchange :DPL (Digital PowerLine) An earlier technology for transmitting a 1 Mbps data signal over electric power lines from Nortel Networks. It was developed in the late 1990s, but later abandoned due to implementation difficulties. See broadband over power lines. ) announced today that members of Local 175 Utility Workers Union of America The Utility Workers Union of America (UWUA) is a labor union in the United States. It has a membership of 50,000 and is affiliated with the AFL-CIO approved a new six-year labor agreement with the Company. "The employees' vote in favor of the new agreement is excellent news for everyone at DP&L," said Allen Hill, the Company's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "With this step, we can move forward together, to meet the challenges of deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. ." The highlights of the new six-year Compact include: -- Employment security -- 3.25% wage rate increases each year -- An increase in the basic pension benefit -- Improved and more flexible healthcare coverage "DP&L is proud of its relationship with its employees," said Hill. "This is a genuine compromise. It is a balanced agreement across the workforce that provides significant improvements for employees and flexibility for the Company to meet the challenges of competition." DPL Inc. is a diversified energy company supplying energy services to customers in the Midwest through its subsidiaries, The Dayton Power and Light Company and DPL Energy. |
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