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PRESS RELEASE

UAW Announces New Agreement with Magnequench

17 March 1997

UAW Agreement With Magnequench International Ratified

    DETROIT, March 14 --The new contract between members of UAW
Local 662 and Magnequench International, Inc., has been ratified by an
overwhelming 92 percent margin, UAW President Stephen P. Yokich, Vice
President Richard Shoemaker and Region 3 Director Ron Gettelfinger announced
today in a joint statement.
    "This impressive ratification vote reflects the fine work of the
bargaining team, backed by the solidarity of the local membership.  UAW
members play an important role in Magnequench's success and we look forward to
a positive and productive relationship over the coming years," Yokich,
Shoemaker and Gettelfinger stated.
    The new, four year agreement provides the approximately 230 UAW
represented Magnequench workers with an up-front $2,000 lump sum payment,
followed by 3 percent general wage increases in September 1997 and September
1998.  These economic gains will be protected against inflation through
cost-of-living allowances (COLA).  Profit sharing is continued, and the
agreement improves funding for job and income security programs.
    Under the contract, which runs until the year 2001, health care, pensions,
group insurance, and health and safety are improved.  Similar to agreements in
the Big Three, the UAW-Magnequench agreement provides up to $1,000 a year in
tuition assistance for each dependent child enrolled in an accredited college
or secondary technical school, as well as tuition assistance of up to $3,800
per year for active workers.
    The new contract provides a total of 63 holidays over the life of the
agreement, including new Veterans Day holidays, in 1998, 1999 and 2000.
Magnequench also agreed to track the wage and benefits amounts negotiated in
the 1999 UAW-GM National Agreement.
    This is the first agreement for UAW-represented Magnequench workers since
the company was purchased from General Motors in 1995.  Until the prior
contract expired, UAW-MQI workers continued to be covered under the UAW-GM
National Agreement.

SOURCE  UAW

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CONTACT: Reg McGhee of UAW Public Relations, 313-926-5291