Union Represents 3,500 Workers At Hawker Beechcraft

The International Association of Machinists and Aerospace Workers plan to vote Friday on a new contract at Hawker Beechcraft. The union website indicates that members will be able to vote between 0900 and 1100 CDT at Hartman Arena in Park City KS. Doors will open at 8am. A short meeting will be held at 0900 to go over the proposal, and IAM attorneys will be on hand to answer any questions. Polls will close at 1100 CDT. The website indicates it will be a simple "yes-or-no" vote.

Reuters reports that union leadership is supporting the proposed contract, which would freeze the company's defined benefit pension plan at current levels as of December 31. The union said in a statement that after that date, the company would add deferred contribution retirement payments to the 401-K plan it already has in place. There would be no other changes in the union contract.

Even if the membership approves the plan, it would still require the blessing of the bankruptcy judge overseeing HBC's reorganization. The company is in exclusive negotiations with a Chinese aviation concern, which hopes to buy the company's civilian operations for $1.79 billion.

FMI: Contract Proposal