Alabama Aircraft Announces Three-Year Extension Of Current Union Contract
Alabama Aircraft Industries, Inc. (Pink Sheets: AAII) announced today that AAII and the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW), Local No. 1155 have agreed to extend, with no changes in pay or benefits, its current collective bargaining agreement for another three years through March 21, 2013. The extension will allow the Company to control expenses and actively compete for new business.
Ron Aramini, President and Chief Executive Officer, said, “We are very pleased that the UAW has agreed to partner with us in fighting for the future of our company and our 800 employees. They understand the competition we face and they are willing to stand with us to meet this challenge and move this Company forward in a steady and determined manner. Given the uncertainties surrounding the future of the KC-135 contract, we have been forced to take strong measures to meet our future and the UAW is going to be very instrumental in our ability to withstand the rigors of a tough economy and even tougher defense industry spending environment.”
Alabama Aircraft Industries, Inc., or AAII, with executive offices and facility in Birmingham, Alabama, performs maintenance and modification of aircraft for the U.S. Government and foreign and domestic customers. The Company also provides aircraft parts and support and engineering services.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV