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LEA Lear Corp

127.565
0.415 (0.33%)
Last Updated: 20:22:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Lear Corp NYSE:LEA NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.415 0.33% 127.565 129.61 127.01 128.63 364,792 20:22:00

Canadian Auto-Parts Workers at Lear, Wescast Go on Strike

28/10/2012 1:41pm

Dow Jones News


Lear (NYSE:LEA)
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From May 2019 to May 2024

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   By Caroline Van Hasselt 

TORONTO--About 500 workers at two auto-parts makers in Canada walked off the job over the weekend, the Canadian Auto Workers said.

The CAW said 400 workers at Lear Corp.'s (LEA) Whitby, Ontario plant went on strike Sunday after negotiations broke down over the company's demands for "deep concessions."

It is the second job action in as many days.

About 75 CAW workers at Wescast Industries Inc. (WCS.A.T) walked off the job in Strathroy, near London, Ontario on Saturday, over job security, the CAW said. The CAW said it has learned that General Motors Co. (GM) intends to move work currently being performed at the facility to China.

Brantford, Ontario-based Wescast, which supplies exhaust manifolds and other components, said it has plans in place to ensure continued supply of parts to customers. It estimates it has a 51% share of the North American exhaust-manifold market, including 65% among the Detroit Three auto makers, GM, Ford Motor Co. (F) and Fiat SpA's Chrysler Group LLC.

Labor talks began in July, a month after Wescast announced that it agreed to be acquired by a unit of Sichuan Bohong Industry Co. of China. The transaction has not yet closed.

Lear, which makes automotive-seating systems and electrical systems, has four parts plants in Ontario. The company wasn't immediately available to comment.

GM wasn't immediately available to comment.

   Write to Caroline Van Hasselt at 
   caroline.vanhasselt@dowjones.com. 

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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