Navistar Workers Reject Latest Proposal, CAW Urges Navistar to Keep Jobs in Canada

CHATHAM, ON, July 2 /CNW/ – More than 900 Navistar workers rejected the latest proposal from Navistar in the ongoing negotiations between the CAW and the company, at a membership meeting held yesterday in Chatham, Ontario.
“We cannot expect our members to accept a contract that will eliminate their jobs and devastate their already hard hit community,” said CAW President Ken Lewenza. “We need a real commitment from the company on the future of this plant. So far, what we’ve seen from Navistar only include eliminating hundreds of jobs and moving production out of the country to the United States and Mexico.”
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Lear Corp. preparing to file for bankruptcy

Automotive parts supplier Lear Corp. (LEA-N0.48-0.02-4.00%)said yesterday that it is preparing to file for Chapter 11 bankruptcy protection and has lined up financing to fund its operations while under court protection.

Lear, which makes automotive seating systems and electronics, said it is still negotiating with lenders and bondholders for additional support for its restructuring plan. In the meantime, the company said it has a commitment for $500-million in loans to finance its bankruptcy from a group of lenders, led by JPMorgan Chase & Co. and Citigroup Inc.

Lear operates three plants in Ontario, including seat-making operations in Whitby and St. Thomas that supply General Motors Corp. and Ford Motor Co. respectively. A third plant in Kitchener manufactures seat components.

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