High Looney Impacts on Machinists with AMF Canada!
Friday May 16, 2008
For Immediate Release
Sherbrooke, QC – The high Canadian dollar has had a severe financial impact on the latest collective agreement for IAMAW Local Lodge 922 members employed by AMF Canada.
“The high Canadian dollar has had a major influence on this contract,” said IAMAW Grand Lodge Representative Mario Clermont. “AMF Canada exports more than 95 per cent of its production here and most of the contracts are paid in US dollars.” AMF Canada is owned by AMF Bakery Systems (US) which has just merged with its chief US competitor to ensure better rationalization of production costs. “This new agreement was vital to AMF Canada acquiring new contracts adapted to this facility,” explained Clermont.
The five-year agreement provides:
- A wage freeze in the first year
- A freeze in the second year but if the CDN dollar has an average value of $ .90, a raise in wages and benefits of 1.2 per cent will apply.
- An increase in wages and benefits of 1.5 per cent in the third year
- An increase in wages and benefits of 2 per cent in the fourth year
- An increase in wages and benefits of 2 per cent in the fifth year
- The IAMAW Pension Fund will remain at $1.72/worked hour for the duration of the agreement paid by the employer.
- Group insurance will be maintained
The 87 members at AMF Canada manufacture bakery systems for the world market.
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:
Mario Clermont – IAMAW Grand Lodge Representative
819-822-3103/819-679-0849
Bill Trbovich – IAMAW Director of Communications
416-386-1789 ext 6331/416-735-9765
