Salaried and non-union colleagues have already made concessions totaling $32 million annually. We need our union colleagues to participate in a fair and equitable manner or many jobs will be jeopardized. While we know these concessions are difficult, they are some of the necessary actions to ensure that Tower's Plan of Reorganization is successful in a very competitive environment.
Tower Automotive remains committed to negotiate with its unions outside of the court process. Tower Automotive remains ready to meet at any time with its unions to negotiate a settlement.
Tower Automotive, Inc. is a global designer and producer of vehicle structural components and assemblies used by every major automotive original equipment manufacturer, including BMW, DaimlerChrysler, Fiat, Ford, GM, Honda, Hyundai/Kia, Nissan, Toyota, Volkswagen and Volvo. Products include body structures and assemblies, lower vehicle frames and structures, chassis modules and systems, and suspension components. Additional company information is available at http://www.towerautomotive.com .
CONTACT: Media: Sharon Wenzl of Tower Automotive, +1-248-675-6253; or
Media: Cindy Carey of Bianchi Public Relations, +1-248-269-1122, for Tower
Web site: http://www.towerautomotive.com/