UAW ratifies labor contract at Daimler's North Carolina plants

Sun May 18, 2014 11:03pm EDT

May 18 (Reuters) - Members of the United Auto Workers (UAW) union at three Daimler Trucks North America LLC (DTNA) plants in North Carolina have ratified a new four-year contract, UAW and the company said in a joint-statement that was emailed to Reuters.

The contract includes a $7,000 ratification bonus and 3 percent wage increases in the first and third years of the agreement, with 3 percent lump-sum bonuses in the second and fourth years.

The UAW and DTNA have also established a Voluntary Employee Benefit Association for retired employees, which is part of the new contract and will include both current and future retirees after regulatory and court approvals.

"The new four-year agreement between Daimler Trucks North America and the UAW serves the mutual benefit of our company, valued workers and retirees," Daimler Trucks North America's Chief Executive Martin Daum said in the statement.

Portland, Oregon-based Daimler Trucks North America is a business unit of German truck maker Daimler AG. (Reporting by Arnab Sen in Bangalore; Editing by Gopakumar Warrier)