Canadian union Unifor said it reached a tentative deal with
Ford Motor
with just hours to go before an 11:59 p.m. Eastern time Tuesday strike deadline.
The union announced earlier Tuesday that it had extended the talks for 24 hours after getting a “substantive offer” minutes before the original deadline on Monday night.
Late Tuesday, Unifor’s National President Lana Payne said in a statement that the deal, covering 5,600 workers at Canadian Ford facilities, “addresses all of the items raised by members in preparation for this round of collective bargaining.”
Ford (ticker: F) stock pointed 0.6% higher in premarket trading Wednesday, and was on track to open higher than its last close before strikes in the U.S. began in the early hours of Friday morning.
Unifor represents about 18,000 auto workers in Canada as their American counterparts at the United Auto Workers remain on strike against Ford Motor (ticker: F),
General Motors
(GM), and
Stellantis
(STLA). Unifor’s contract expired in September, and opened bargaining up in August.
The initial deadline for Ford had been set to expire at 11:59 p.m. on Monday.
Ford said earlier Tuesday that it would “continue to work collaboratively with Unifor to create a blueprint for the automotive industry that supports a vibrant and sustainable future in Canada.”
Write to Janet H. Cho at [email protected]
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