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Magna International Inc
Symbol MG
Shares Issued 389,039,171
Close 2016-08-24 C$ 52.07
Market Cap C$ 20,257,269,634
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Globe says UAW wins vote to represent Magna workers

2016-08-25 07:03 ET - In the News

The Globe and Mail reports in its Thursday, Aug. 25, edition that the United Auto Workers union has won a vote to represent workers at a Magna International plant in Spring Hill, Tenn. The Globe's Greg Keenan writes that the union will represent 230 workers who make seats for General Motors vehicles assembled at the automaker's plant in the city. UAW director Ray Curry says, "The UAW thanks Magna for providing a workplace that truly fosters a harmonious environment." Magna's United States factories have proved difficult to organize for the UAW, which represents workers at just five of Magna's 54 parts factories in the U.S. The union that represents Canadian auto workers, Unifor, has also found it difficult to entice Magna employees to join the union. This is despite an agreement with the company called the Framework of Fairness, signed in 2007 by then union president Buzz Hargrove and Magna founder Frank Stronach. Workers at three of Magna's 50 Canadian plants are represented by Unifor under the Framework of Fairness while the union has organized another Magna plant that is not subject to the terms of the framework. Under the Framework of Fairness, unresolved disputes are sent to binding arbitration.

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