General Cable Reaches Agreement With Lincoln, Rhode Island Union.
HIGHLAND HEIGHTS, Ky. -- General Cable Corporation (NYSE NYSE
See: New York Stock Exchange :BGC BGC General Cable Corporation (stock symbol)
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USWA United States Wrestling Association
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USWA United States Wristwrestling Association ). The Local Union, which represents 180 production and maintenance workers at the Company's Lincoln, Rhode Island Lincoln is a town in Providence County, Rhode Island, United States. The population was 20,898 at the 2000 census. Lincoln is located in northeastern Rhode Island, and is north of Providence. facility, voted to ratify the agreement on Saturday, April 2. The union members will return to work today.
"We are happy that an agreement could be reached quickly," said Greg Lampert, Vice President and General Manager at General Cable. "The agreement meets the strategic and financial needs of the Company, particularly with respect to healthcare coverage and employee contributions, while also providing a fair wage and benefits package for our Lincoln hourly associates."
General Cable (NYSE:BGC), headquartered in Highland Heights, Kentucky Highland Heights is a city in Campbell County, Kentucky in the United States. The population was 6,554 at the 2000 census.
Highland Heights is home to Northern Kentucky University. , is a leader in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for the energy, industrial, specialty and communications markets. Visit our website at www.GeneralCable.com.
Certain statements in this press release, including without limitation, statements regarding future financial results and performance, plans and objectives, capital expenditures and the Company's or management's beliefs, expectations or opinions, are forward-looking statements. Actual results may differ materially from those statements as a result of factors, risks and uncertainties over which the Company has no control. Such factors include economic and political consequences resulting from the September 2001 terrorist attack and the war with Iraq, domestic and local country price competition, particularly in certain segments of the power cable market and other competitive pressures; general economic conditions, particularly in construction; changes in customer or distributor purchasing patterns in our business segments; the Company's ability to increase manufacturing capacity and productivity; the financial impact of any future plant closures; the Company's ability to successfully complete and integrate acquisitions and divestitures; the Company's ability to negotiate extensions of labor agreements on acceptable terms; the Company's ability to service debt requirements and maintain adequate domestic and international credit facilities and credit lines; the Company's ability to pay dividends on its preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders.
Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. ; the impact of unexpected future judgments or settlements of claims and litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.
When a person begins a civil lawsuit, the person enters into a process called litigation. ; the Company's ability to achieve target returns on investments in its defined benefit plans Defined benefit plan
A pension plan obliging the sponsor to make specified dollar payments to qualifying employees at retirement. The pension obligations are effectively the debt obligation of the plan sponsor. Related: Defined contribution plan ; the Company's ability to avoid limitations on utilization of net losses for income tax purposes; the cost of raw materials, including copper and aluminum; the Company's ability to increase its selling prices during periods of increasing raw material costs; the impact of foreign currency fluctuations; the impact of technological changes; and other factors which are discussed in the Company's Report on Form 10-K Form 10-K
A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.
See 10-K. filed with the Securities and Exchange Commission on March 30, 2005, as well as periodic reports filed with the Commission.