PITTSBURGH (April 16, 2008) — Continental Tire North America Inc. has reached a tentative agreement with the United Steelworkers to make payments totaling $158 million to a USW retiree health insurance fund, according to the union.
The proposed settlement, which needs court approval, follows a lawsuit filed by the USW and union retirees after Conti implemented a $3,000 cap on its contribution for retiree health coverage, the union said.
The deal provides benefits for about 2,300 retirees and 100 active employees upon their retirement, according to the union.