CNH AND UAW REACH PROPOSED SETTLEMENT AGREEMENT
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Lake Forest, Illinois (March 17, 2005) CNH America LLC, a wholly owned subsidiary of CNH Global N.V. (NYSE:CNH), today announced that the company and the United Auto Workers have reached a proposed settlement agreement affecting approximately 650 workers in Burlington, Iowa, Racine, Wisconsin and two other locations.
CNH presented the agreement to the UAW Wednesday evening, and the union has agreed to take the company's proposal to its membership for a ratification vote this weekend.
"We are glad that we have this proposed agreement with the UAW and look forward to a positive ratification vote this weekend so our employees can return to work," said Tom Graham, CNH lead negotiator.
Further details about the proposed agreement will not be released until the UAW presents the proposal to its members.
CNH is the power behind leading agricultural and construction equipment brands of the Case and New Holland brand families. Supported by 12,000 dealers in approximately 160 countries, CNH brings together the knowledge and heritage of its brands with the strength and resources of its worldwide commercial, industrial, product support and finance organizations. More information about CNH and its products can be found on line at www.cnh.com.