Tuesday September 18, 2012
For Immediate Release
Cambridge, On – “The IAM was able to secure a tentative agreement with Kromet International that made sense for a competitive future for the company while providing gains in wages and benefits for the members,” explained IAM District Lodge 78 Business Representative Derek Ferguson.
The 114 members of IAM Local Lodge 2707 employed at the Cambridge facility ratified a new three-year collective agreement. It provides for a wage increase of a $600.00 lump sum payment in the first year, a $ .30 per hour wage increase and a $ .15 per hour pension increase in the second year, and a $ .30 per hour wage increase and $ .05 per hour pension increase in the third year. Other agreement highlights include :
· Increased shift premium
· Enhanced bereavement benefit
· Improved contract language
“This was a particularly difficult round of bargaining due in part to the economic pressures faced by Kromet International,” explained Ferguson. “They’re trying to maintain a stable and competitive manufacturing presence in Cambridge as manufacturers are increasingly moving operations offshore.”
Kromet is a custom engineering and manufacturing source for aluminum and steel appliance handles and trim components.
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For further information:
Derek Ferguson – IAM District Lodge 78 Business Representative
416-225-9003/519-807-3106
Bill Trbovich – IAM Director of Communications
416-386-1789 Ext#6331/416-735-9765
