VC Visteon Corporation

UAW and Visteon Finalize Supplemental Agreement DEARBORN, Mich., May 6 /PRNewswire-FirstCall/ -- Visteon Corporation and the United Auto Workers today signed a seven-year Visteon Supplemental Agreement covering new hires at Visteon's UAW Master Agreement facilities. The two parties announced a tentative agreement April 29. Under the agreement, Visteon will hire new employees at wage and benefit levels significantly below UAW-Ford Master Agreement rates, improving the company's competitive position. (Logo: http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO ) "We are pleased to have worked cooperatively with the UAW to reach an agreement that improves our cost structure while providing opportunities for future UAW-represented employees," said Robert H. Marcin, Visteon senior vice president, corporate relations. "This is an important step in our continuous drive to be a globally competitive Tier 1 automotive supplier." The agreement covers employees at Visteon's 15 UAW Master Agreement facilities in the United States. Under terms of the agreement, the starting wage will be $14 per hour, with a grow-in to a full rate of up to $18.50 per hour. The agreement also includes more cost-competitive health care, pension and post-retirement medical benefits. Visteon Corporation is a leading full-service supplier that delivers consumer-driven technology solutions to automotive manufacturers worldwide and through multiple channels within the global automotive aftermarket. Visteon has approximately 72,000 employees and a global delivery system of more than 200 technical, manufacturing, sales, and service facilities located in 25 countries. http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO DATASOURCE: Visteon Corporation CONTACT: Media Inquiries: Tammera L. Hallums of Visteon Corporation, +1-313-755-0998, or Web site: http://www.visteon.com/

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