PACE 7-0232 and STRATTEC SECURITY CORPORATION Announce Agreement in Principle

    MILWAUKEE, May 31 Representatives of Local 7-0232 of the
Paper, Allied Industrial, Chemical and Energy Workers International Union
(PACE) and STRATTEC SECURITY CORPORATION announced a tentative
agreement in principle on all substantive issues for a successor labor
contract.  The union has scheduled a ratification meeting for 1:30 p.m.,
Wednesday, June 6.
    The existing labor contract was to terminate at midnight Thursday, May 31.
In order to accommodate the ratification vote without a work stoppage, PACE
Local 7-0232 and STRATTEC agreed to extend the existing contract to midnight
Wednesday, June 6, 2001.  Representatives for both sides expressed a high
level of optimism that the tentative agreement will be voted on favorably by
the membership.

                     MAKE YOUR OPINION COUNT - Click Here
               http://tbutton.prnewswire.com/prn/11690X13152587