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UPDATE: Mercury union approves contract - Trade Only Today

UPDATE: Mercury union approves contract

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Members of the International Association of Machinists and Aerospace Workers Local 1947 in Fond du Lac, Wis., reportedly approved a "best and final" contract offer from Mercury Marine today, according to local media reports.

The union's vote effectively preserves 850 production jobs at Mercury Marine in Fond du Lac. Had the union not approved the concessions in the new contract, the company said it would move the jobs to its plant in Stillwater, Okla.

"After weeks of intense discussions and completion of the voting process, we accept the union's ratification of our contract proposal," Mark Schwabero, president of Mercury Marine, told local media.

"As we've stated throughout this important process, comprehensive changes to wages, benefits and operational flexibility are necessary for Mercury to effectively compete in a smaller and fundamentally changed marketplace," he added.

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