Gunite Rockford Employees Ratify A New Collective Bargaining Agreement.EVANSVILLE, Ind. -- Gunite gun·ite n. A concrete mixture that is sprayed from a special gun over steel reinforcements in light construction. [Originally a trademark.] Noun 1. Corporation, a subsidiary of Accuride Corporation (NYSE NYSE See: New York Stock Exchange :ACW ACW Arts Council of Wales (UK) ACW Arts Council of Wales ACW American Civil War ACW Alliance for Computers and Writing ACW Air Control Wing ACW After Call Work (call centers) ), announced today that the Company and the International Union, United Aerospace and Agricultural Implement Workers of America (UAW (spelling) UAW - Misspelling of "IAW"? ), Local 718 have successfully reached a new collective bargaining agreement The contractual agreement between an employer and a Labor Union that governs wages, hours, and working conditions for employees and which can be enforced against both the employer and the union for failure to comply with its terms. , covering approximately 150 employees at its foundry in Rockford, Ill. The two parties have been engaged in ongoing productive negotiations since March and reached a tentative agreement on April 26, 2005. On April 28, the UAW informed the Company that its members had voted to accept the contract. The new agreement is effective May 1, 2005, through November 17, 2007. "We are very happy with the contract agreement that has been reached," said Terry Keating, Accuride'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. . "Throughout the negotiations process, the Company and the Union have diligently worked toward reaching an agreement. At the same time, the workforce did its part by steadily continuing to operate the foundry in a manner to ensure ample product was produced to meet customer needs. This is a positive outcome for Gunite and its parent corporation, Accuride." Gunite Corporation, a subsidiary of Accuride Corporation, is a leading North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. supplier of wheel-end systems and components for the heavy- and medium-duty market and their related aftermarket. Gunite's product line includes brake drums, disc wheel hubs, spoke wheels, rotors and slack adjusters. Accuride Corporation (NYSE:ACW) is one of the largest and most diversified manufacturers and suppliers of commercial vehicle components in North America. Accuride's products include commercial vehicle wheels, wheel-end components and assemblies, truck body and chassis parts, seating assemblies and other commercial vehicle components. Accuride's products are marketed under its brand names, which include Accuride, Gunite, Imperial, Bostrom, Fabco and Brillion. For more information, visit Accuride's website at http://www.accuridecorp.com. Statements contained in this news release that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, including statements regarding the Company's expectations, hopes, beliefs and intentions on strategies regarding the future. It is important to note that the Company's actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including but not limited to market demand in the commercial vehicle industry, general economic, business and financing conditions, labor relations, governmental action, competitor pricing activity, expense volatility and other risks detailed from time to time in the Company's Securities and Exchange Commission filings. |
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