Ford To Begin Informal Concession Talks With CAW Friday

Ford Motor Co. (F) said Thursday it will hold an informal meeting with the Canadian Auto Workers on Friday to discuss the future of the business and what cost-concessions they need from the union in order to remain competitive.

Joe Hinrichs, Ford's manufacturing chief, will meet with Mike Vince, the chairman of the CAW's master bargaining agreement, in Toronto.

Ford spokeswoman Angie Kozleski declined to disclose what specific topics will be covered at the meeting.

Earlier this year, General Motors Corp. (GMGMQ) and Chrysler Group LLC won a new round of concessions from the CAW in order to receive as mandated by the U.S. federal government in order to secure financial aid to run their operations.

Ford, which hasn't sought U.S. federal aid, has demanded "parity" in any cost-cutting deals given to its rivals by the CAW or the United Auto Workers.

The CAW agreed to give up some of its paid holidays and other benefits in order to lower the overall hourly compensation for its members.

Ford warned the union in May that its Canadian operations are "at risk" without further concessions.

-By Jeff Bennett; Dow Jones Newswires; [e-mail]; 248-204-5542