Boeing

The Boeing Company [NYSE:BA] was notified today that the International Association of Machinists and Aerospace Workers District Lodge 837 has ratified the company's newest three-year contract offer.

The new contract that covers more than 2,800 employees in St. Louis, St. Charles, Mo., Patuxent River, Md., and China Lake, Calif., becomes effective at 12:01 a.m. on May 24. The previous three-year contract expires at midnight on May 23.

Negotiations on the new contract officially began on April 26 and culminated May 18 when the company presented its best and final offer to the union's bargaining team. The union's leadership recommended that the members vote to approve the agreement.

"We are pleased that the IAMAW employees agreed with their union leadership and ratified this contract offer which is one of the most competitive in the industry," said John Van Gels, vice president of operations and St. Louis site executive who led the bargaining team. "Our employees are the best in the industry. They work hard and they deserve to be well compensated. We believe that the increases in compensation and the attractive benefits package make this an outstanding contract for our employees and their families.

"This new agreement will set the stage for our growth here in St. Louis by providing excellent wages and benefits for our employees, which allow us to become increasingly competitive in the future."