Ford Motor Co and the United Auto Workers union said on Tuesday they had reached a tentative four-year contract that would allow the automaker to invest almost $5 billion in US plants and create an additional 5,750 jobs. Ford declined to comment in detail on how the agreement would affect fixed costs, but said the proposed contract would allow it to bring work to the United States from Mexico, China and Japan.
"We're very pleased that it will improve our competitiveness here in the United States," John Fleming, Ford's head of global manufacturing, told reporters. The tentative Ford contract must still be ratified by 41,000 workers represented by the UAW. As a first step, UAW officials representing Ford plants will meet in Detroit later on Tuesday to review and approve the deal.
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