Machinists ratify agreement with Canadian Banknote
Friday October 27, 2006
For Immediate Release
Ottawa, ON – The members of IAMAW Local Lodge 412 have ratified a new five-year collective agreement with Canadian Banknote Company Limited.
The agreement provides a wage increase of 3 per cent retroactive to January 1, 2006, a further wage increase of $1.75 an hour effective October 19, 2006, and wage increases of 2 per cent in the second and third year and 3 per cent in the fourth and fifth year. The current average wage rate is $30.96 per hour. The $1.75 increase to the base rate was agreed to in order to address previous wage concessions of the mid 1990’s when Quebecor forced all unions involved in security paper production to take wage roll backs.
Other agreement highlights include improvements to sub-contracting and training language as well as improved vacation credits for previous service.
The nine members of IAMAW Local Lodge 412 produce currency and security papers for the Canadian mint and banking industry.
The IAMAW, among the largest industrial trade unions in North America, represents more than 700,000 active and retired members, and administers more than 5,000 contracts in transportation, woodworking, aerospace, manufacturing and defense related industries.
For further information:
Bill Shipman – IAMAW Grand Lodge Representative
705-875-7206
Bill Trbovich – IAMAW Director of Communications
416-386-1789 ext 31/416-735-9765
