CAW, Chrysler Canada reach key contract deal-CTV

Fri Apr 24, 2009 11:28pm BST
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TORONTO, April 24 (Reuters) - The Canadian Auto Workers union struck a concession deal with Chrysler Canada on Friday, CTV television reported.

Chrysler [CBS.UL] is seeking billions of dollars in emergency loans in Canada and the United States and must prove its viability in order to qualify for the funding.

One of the conditions set by governments in both countries is that Chrysler must obtain significant concessions from its unions.

The union has scheduled a news conference for 8 p.m. Friday evening in Toronto.

($1=$1.22 Canadian) (Reporting Rob Wilson, Editing Allan Dowd)

 
 
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