Global Economy impacts on Volvo Penta Agreement!

Monday February 23, 2009
For Immediate Release
Burnaby, BC – The worsening global economy has had a direct impact on the latest collective agreement signed by the members of IAMAW Local Lodge 692 with Volvo Penta Canada (Marine Division).
“Volvo Penta is facing the same challenges as are all manufacturers and the members here are concerned for the job security,” said IAMAW District 250 Business Representative Paul Pelletreau. “The layoff of 25 employees at their US plant weighed heavily on this round of bargaining.”
The new two-year agreement provides for wage increase of 2.95 per cent in the first year and 3 per cent in the second year. There were no changes to contract language.
The 10 members build inboard and outboard marine engines.