American Axle, UAW talks progressing
DETROIT (Reuters) - American Axle & Manufacturing Holdings Inc (AXL.N) and the United Auto Workers have made progress in talks aimed at ending a seven-week strike at five U.S. plants, but talk of a tentative agreement remains premature, a company spokeswoman said on Thursday.
Expectations that the two sides might be close to a deal heightened on Wednesday after the union opted to postpone a planned rally in Detroit on Friday in support of the striking American Axle workers.
"Things are progressing but talk of a tentative agreement is premature at this time," American Axle spokeswoman Renee Rogers said.
Negotiators for American Axle and the UAW have been meeting daily since talks resumed a week ago. The resumption of full talks after a month of wrangling over financial details had been seen as a sign of a potential breakthrough.
About 3,650 UAW workers are on strike at American Axle plants in Michigan and New York since February 26. The strike also has forced at least the partial idling of 30 General Motors Corp (GM.N) plants in North America due to parts shortages.
(Reporting by David Bailey, editing by Dave Zimmerman)
© Thomson Reuters 2009 All rights reserved
Citadel enters the fray
Kenneth Griffin's powerful hedge fund has waded into the case of Goldman Sachs' purloined computer code, suing three of its former employees for setting up Teza Technologies. Full Article | Full Coverage
