GM Workers at Ontario Assembly Plant Approve 4-Year Agreement

Unionized workers at General Motors Co.’s CAMI assembly plant in Ingersoll, Ontario, approved a four-year deal with the automaker that the union said will help to create “hundreds” of jobs.

Ninety percent of union members approved the pact at a meeting in London, Ontario, today, Canada’s Unifor union said in an e-mailed statement. The agreement includes a C$3,000 ($2,910) signing bonus and annual lump sum payments of C$2,000 in 2014, 2015 and 2016, the union said. It protects current pension benefits for active workers and retirees and gives full-time jobs to hundreds of temporary workers, Unifor also said.

The plant in Ingersoll bargains separately from other GM plants represented by Unifor. Those factories reached a four-year labor agreement last year, which cut the hourly rate for new hires to C$20.40 from C$23.80. The agreement was similar to agreements reached with Ford Motor Co. and Chrysler Group LLC.

GM on March 8 announced plans to invest in the Ingersoll plant to install body shop equipment and tools to permit the factory to build more types of vehicles. The factory’s current products include the Chevrolet Equinox.

Before it's here, it's on the Bloomberg Terminal.