Since it's inception a half century ago, Magna has grown into the fourth largest automotive parts supplier in the world with sales of almost $24 billion in 2006. The Canadian company has even gotten into complete vehicle assembly with its purchase of Steyr-Daimler-Puch a few years back. Of all the things Magna has done, the one thing it's never tried is negotiating a union contract. Magna plants up until now have now never been unionized. For the first time, the company has reached an agreement that would allow the Canadian Auto Workers union to try and organize the companies 61 Canadian plants. The company will stay neutral as the CAW conducts organization drives. It will be interesting to see if this new policy gets extended to Magna's US plants and the UAW
, as well.
[Source: Globe and Mail]