CNH Industrial (NYSE: CNHI /MI: CNHI) has been notified by the United Auto Workers (UAW) that its members have ratified a new contract agreement with the capital goods company.
CNH Industrial and the UAW had reached a tentative agreement on April 30, 2016, that required a ratification vote by UAW members at CNH Industrial facilities which occurred on May 16. Terms of the agreement will not be made public.
The Company is pleased to have a new long-term contract in place that is fair and equitable to its UAW represented employees. This contract will enable CNH Industrial to be competitive in the global marketplace it serves, ensuring a secure future for its U.S. employees and the local communities in which it operates.
The UAW represents approximately 860 hourly employees at CNH Industrial manufacturing facilities in Burlington, Iowa, and Racine, Wis.
Burr Ridge, May 17, 2016