Mack and UAW reach tentative agreement including creation of independent retiree healthcare trust
Mack Trucks, Inc. and the United Auto Workers union have reached a tentative agreement on a new 40-month Master Agreement. The agreement includes the creation of a trust that would completely eliminate Mack´s health care liabilities for retirees. If approved by the UAW members, the agreement would have a negative impact on the Volvo Group´s operating income of approximately $110 million in the second quarter 2009.The tentative agreement includes a successor collective bargaining agreement, and the creation of a UAW-managed independent trust, known as a Voluntary Employee Beneficiary