NEWTON, Iowa, July 2 /PRNewswire-FirstCall/ -- Maytag Corporation
(NYSE: MYG) announced today that Local 997 of United Automobile, Aerospace and
Agricultural Implement Workers (U.A.W.) ratified a new four-year contract
covering production and maintenance employees at Maytag's manufacturing
facilities in Newton, Iowa.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000505/MYGLOGO )
With the contract ratification, all production and maintenance employees
at the facilities who were actively employed by Maytag on June 10, 2004, are
instructed to report to work on their normal shifts and job assignments on
Tuesday, July 6, 2004.
"The new contract is a positive development," commented Mark Krivoruchka,
senior vice president of human resources. "We are pleased that union members
recognized that cost improvements are a necessity in this competitive
environment."
The contract addresses key cost issues including employee and retiree
health benefits and work rule flexibility. Information related to estimated
impact on Pension and Post Retirement Medical costs will be provided with
second quarter results when they are announced on July 23.
Maytag Corporation is a leading home and commercial appliances company.
Its products are sold to customers throughout North America and in
international markets.
Forward-Looking Statements
Certain statements in this news release, including any discussion of
management expectations for future periods, constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results to differ
materially from the future results expressed or implied by those statements.
For a description of such factors, refer to "Forward-Looking Statements" in
the Management's Discussion and Analysis section of Maytag's Annual Report on
Form 10-K for the year ended January 3, 2004, and each quarter's 10-Q.
CONTACT: Lynne Dragomier of Maytag Corporate Communications,
+1-641-787-7711, ldragomier@maytag.com
SOURCE Maytag Corporation
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Related links:
http://www.maytagcorp.com
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CONTACT:
Lynne Dragomier of Maytag Corporate
Communications, +1-641-787-7711, ldragomier@maytag.com
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