View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
July 5, 2019

Faurecia UAW agrees four-year deal

Industrial unrest at Faurecia's Saline plant in Michigan has been quelled with the inking of a deal by the French supplier's UAW union to agree a new contract.

By Rhodri Morgan

Industrial unrest at Faurecia ‘s Saline plant in Michigan has been quelled with the inking of a deal by the French supplier’s UAW union to agree a new contract.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

Members of UAW’s Local 892 branch had previously gone on strike for nine hours following the expiration of their previous contract, but a new vote has secured a four-year deal.

The 1,900 UAW 892 members, employed by Faurecia interior Systems in Saline, build parts for Fiat Chrysler, Ford and Tesla vehicles.

The contract was passed with 83% support from workers and will implement periodic pay raises during the next four years, institute a US$2,500 signing bonus, and create a union health and safety representative position.

News of industrial harmony at Faurecia comes after the French supplier earlier this year announced plans to open a new Interiors production facility in Blue Springs, Missouri. The new site will create more than 300 new jobs and officially begin production activity later this year, ramping up to full manufacture by the end of 2020.

On completion, total investment is expected to be in excess of US$60m and create around 300 jobs.

Faurecia is proud to open this new site and to provide new opportunities for local jobseekers,” said Faurecia Interiors North America president, Donald Hampton.

“Kansas City Metro and the Blue Springs area are known for being a source of excellence in American manufacturing and we’re looking forward to building on that expertise and skill set.”

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto