I.A.M. Approves New Contract at Herrin Laundry Products Plant
NEWTON, Iowa, June 11 /PRNewswire-FirstCall/ -- Maytag (NYSE: MYG) and the International Association of Machinists and Aerospace Workers (I.A.M.) Local 554 jointly announced today that union members ratified a new four-year contract at the Herrin, Illinois, laundry plant. Maytag's current five-year labor agreement with the I.A.M. Local 554 would have expired on Sunday, June 12, 2005, at 11:59 p.m. (Logo: http://www.newscom.com/cgi-bin/prnh/20000505/MYGLOGO ) "We want to thank the I.A.M. Local 554 leadership and the Herrin union employees for their willingness to work together to reach this new labor agreement," said Mark Krivoruchka, Maytag's senior vice president of human resources. "The cooperative attitude displayed at Herrin should allow Maytag to remain competitive in our challenging global marketplace and enable Herrin to become the main facility for our vertical-axis, top-load washer production." Wages, health care and other benefits were addressed in the new contract. Details about the contract are not being released. Herrin Laundry Products manufactures top-load washers and certain dryer models. Forward-Looking Statements: Certain statements in this news release, including any discussion of management expectations for future periods, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the future results expressed or implied by those statements. For a description of such factors, refer to "Forward-Looking Statements" in the Management's Discussion and Analysis section of Maytag's Annual Report on Form 10-K for the year ended January 1, 2005, and each quarter's 10-Q. Media Contact: John Daggett Maytag Corporate Communications (641) 787-7711 email@example.comRELATED LINKS
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