(Reuters) - Union workers represented by Teamsters at BorgWarner (NYSE:BWA)'s New York state plant approved a four-year contract with the auto parts maker, bringing an end to a two-week strike, both parties said on Tuesday.
The new contract reflects a 21% wage increase over the life of the agreement, along with better medical and vacation benefits and a $5,500 ratification bonus for over 700 workers represented by Teamsters at the company's Lansing campus in the Ithaca area.
"BorgWarner and Teamster Local 317 worked closely and collaboratively on a contract agreement which was ratified on Saturday, September 21, 2024. Striking employees returned to work on the 3rd shift Sunday, September 22, 2024," the company said.
Members represented by the Teamsters union at BorgWarner voted to approve the contract after going on strike on Sept. 9.
"We weren't asking for the moon, just a piece of the pie. This new contract is exactly what we were fighting for," said Lane Yon, a member of Teamsters Local 317 and chairperson of the strike committee.
BorgWarner employs over 1,300 people at the plant, where the company produces its automotive chain systems for engine timing and power transmission, according to its website.