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THE NEW YORK TIMES REACHES AGREEMENT WITH PAPERHANDLERS

 NEW YORK, Dec. 23 /PRNewswire/ -- The New York Times today announced it reached a tentative agreement yesterday with the Paperhandlers' & Straighteners' Union No. 1, whose members receive newsprint shipments and prepare the newsprint for the presses. The agreement is subject to ratification by the union membership.
 The agreement, which is similar to those already ratified by the membership of The Times's other production unions, covers the facilities in Manhattan and Edison, N.J.
 This is the last of the labor agreements The Times sought with its seven production unions related to the opening of its new color plant in Edison. This state-of-the-art printing and distribution facility began printing operations in late September.
 Lance R. Primis, president and chief operating officer of The New York Times Company (AMEX: NYT.A), said, "Our new labor agreements, all which go to the year 2000, will allow us to operate more efficiently while insuring higher qualty and lower costs. It also marks a new era of cooperation between management and the unions, paving the way for long-term labor stability."
 As the company announced in October, an additional charge against fourth-quarter earnings of approximately $25 million ($.18 per share) to cover severance and related costs is expected if agreements are ratified with the Paperhandlers and the International Association of Machinists District 15, who reached tentative agreement with The Times on Dec. 10.
 Details of the Paperhandlers' agreement were not released.
 -0- 12/23/92
 /CONTACT: Nancy Nielsen, 212-556-7078, or William Adler, 212-556-7070, both of the New York Times Company/
 (NYT)


CO: The New York Times Company; Paperhandlers' & Straighteners'
 Union No. 1 ST: New York, New Jersey IN: PUB SU:


GK -- NY051 -- 9666 12/23/92 15:53 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Dec 23, 1992
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