NEWTON, Iowa, June 11 /PRNewswire-FirstCall/ -- Negotiations between
Maytag Corporation (NYSE: MYG) and U.A.W. Local 997 on a new labor contract
covering production and maintenance employees at Maytag's Newton Laundry
Products plant in Newton, Iowa, have broken off, as both sides have been
unsuccessful in reaching an agreement.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000505/MYGLOGO )
The union's labor agreement officially expired at 10:00 p.m., on June 9,
after two extensions. Appliance production has been halted in Newton,
beginning 4 p.m., June 10.
"We are disappointed to be unable to reach an agreement with the U.A.W.,"
said Mark Krivoruchka, senior vice president of human resources. "Both
parties worked late into the evening on Wednesday in an attempt to reach an
accord. It is unfortunate that Newton Laundry employees have not been given
an opportunity to vote and determine their future with Maytag.
"Newton Laundry Products continues to maintain a significantly higher cost
structure than other Maytag plants because of its high benefits costs, which
needs to be addressed in order for the plant to be competitive in today's
marketplace."
The company has developed a contingency plan to fulfill customer orders,
and production continues at the company's laundry plants in Searcy, Ark.,
Florence, S.C., and Herrin, Ill.
Maytag Corporation is a leading home and commercial appliances company.
Its products are sold to customers throughout North America and in
international markets.
Media Contact: Lynne Dragomier
Maytag Corporate Communications
(641) 787-7711
ldragomier@maytag.com
SOURCE Maytag Corporation
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Related links:
http://www.maytagcorp.com
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PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840
CONTACT:
Media, Lynne Dragomier of Maytag Corporate
Communications, +1-641-787-7711, ldragomier@maytag.com
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